Definition of Stimulus check:
A stimulus check is a check sent to a taxpayer by the U.S Government to it's taxpayers. Stimulus checks are sent with the purpose to stimulate economy by providing consumers with some spending money. Taxpayers receive the money because it is intended to boost consumption and drive revenue at retailers and manufacturer ,spurring the economy
History
Stimulus checks were first used during the great Recession of 2008.Between March 2020 and March 2021,the U.S government sent Americans three round of stimulus payments to provide relief for economic hardships caused by Pandemic.
Key Takeways
Third round individual stimulus payments of 1400 dollars are a part of President Biddens American rescue Plan signed in to law on March 2021
(2) Dependents will also get 1400 dollars., .including those over the age of 17
(3) Payment could begin going out within days of the legislation becoming law.
(4) Tax filing on time will give you benefit
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