The stimulus check has a limit of $1,400 per person. One is immediately eligible to receive more money than the first two installments. However, other families get larger sums.
IRS Continues to Distribute Stimulus Checks
In a recently published article in CBS News, the IRS said on Tuesday that it has distributed over $390 billion in direct assistance to nearly 164 million families in the United States and that it is continuing to deliver checks to those who have recently filed tax returns or are due to more funds under the relief plan.
The government agency also broke down its payouts thus far by state and socioeconomic category, revealing which Americans have benefited the most from the recent round of assistance.
The benefits favor families with more children and those who earn less than $150,000 per year since they are based on the number of eligible persons in each home as well as individual income, according to a published article in The New York Times.
States With Biggest and Lowest Amount of Stimulus Checks Per Family
According to new state-level statistics from the Internal Revenue Service, Utah households got the biggest stimulus checks in the third round of direct payments, with an average windfall of $2,784.
Meanwhile, the average household size in Idaho is 2.6 persons, according to IRS statistics, while households received the second-largest average payment of $2,628, based the data IRS released, as per CNET.
The Northeast states, including Washington, D.C., have the lowest average-per-household contributions. At $1,965 per family, they have reached the bottom. Massachusetts had the second-lowest payments at $2,215 per family on average.
Families in the Northeast are smaller and have greater earnings than those in several Western and Midwestern states, which likely restricted the number of eligible families in New England. According to Census statistics, the average household income in Massachusetts is $81,000, compared to $71,000 in Utah.
Families Could Receive More Than $1,400 Stimulus Checks
While dependents do not get separate checks, they do contribute to the family's total grant. Children under the age of 16 received $500 each in the first check, while adults received up to $1,200. The second check included $600 for kid dependents, the same amount as their parents or guardians.
Adults would still be computed on a sliding scale based on adjusted gross income or AGI under the third stimulus check, which increases the amount to $1,400 per person. In principle, a family of four might get up to $5,600 if they fulfilled all of the income criteria.
You and the other parent of the kid may be eligible for additional stimulus funds if you satisfy certain criteria. That means you might receive an additional $500 or more in the third stimulus check, particularly if your circumstances altered between when you filed your 2019 tax return and when you submitted your 2020 tax return. The allowance for the third check would be determined by your most recent tax return.
Furthermore, the most recent batch of stimulus payments gave $1,400 to single taxpayers earning less than $75,000 and $2,800 to couples earning less than $150,000. For single individuals earning more than $80,000 and married couples earning more than $160,000, the payments fall down until they are completely eliminated.
