Fourth Stimulus Check Update: Who Will Get Third And Final Payment?

Believe it or not, some Americans still have not received the funds from the third stimulus check in 2021. Now, if they were eligible and still haven’t received the payment, they are looking at their last chance to possibly access the money they are owed.

The third check, which was the only one passed during the Biden Administration and was worth $1,400, was dispersed to most Americans in March of last year, but some who were eligible for it but didn’t receive it have been left waiting for their chance to receive the money. Now, if they file their taxes by the April 18 deadline, they could receive a credit for the amount—but it will be the last chance to do so.

The IRS has made it clear that in order to get a Recovery Rebate Credit, an individual will need to file a 2021 tax return, even if they don’t usually file one, according to CNN.

However, after those who are eligible for those payments receive them, it will be the last payment received at the federal level. Some states are still rolling out some checks through their budgets to help their citizens combat inflation, which has led to rising prices both on food and gas, but the federal government has seemingly signaled that it is done providing stimulus checks, even in the face of record inflation that is causing stress to many Americans.

The rise in costs has led to more calls for another round of stimulus money, with many indicating that assistance would be needed as the price of gas continues to hover at higher levels, with a national average price of $4.12 per gallon, according to AAA. Food costs have also been on the rise, with eggs also recently seeing an uptick in costs following a bird flu affecting the numbers produced.

However, the government will likely resist sending out another round of aid because the stimulus checks, while necessary for many Americans during the heart of the COVID-19 Pandemic as they faced unemployment, are a direct contributor to inflation now. While price increases are also tied to still bottlenecked supply chains around the world and the current Russia-Ukraine war, checks also played a role in the current economic state as well.

“Injecting more federal stimulus into the economy could stoke the flames of inflation even further,” Riley Adams, a licensed CPA and senior financial analyst for Google told Yahoo! News in December. “With people having more income available, consumer demand might pick up and exacerbate an already stressed supply chain.”