Will Child Support Take the Third Stimulus Check?

1. Will Child Support Take the Third Stimulus Check? Covid-19 has proved to be a nightmare for most individuals, especially for the people who belong to the low-income bracket. The lockdowns forced daily workers and low salaried employees to go jobless, which consequently wiped out their savings. With these bills, an important question arose, ‘will child support take the third stimulus check’. Let’s find the answer to this. Many people are now under huge debts which they were force to take for survival. The government took responsibility for these people and the Congress passed bills for stimulus checks. These bills were seen into action as 3 stimulus checks in the years 2020 and 2021 as part of The Coronavirus Aid, Relief, and Economic Security (CARES) Act.

2. What is Stimulus Check Source: kiplinger.com A Stimulus Check is provide by the United States Government to stimulate the economy. In other words, the federal government provides money to the registered taxpayers to spend. This spending boosts sales in the retail sector, which ultimately boosts the economy. As Covid-19 affected the economy adversely, the U.S. government provided these checks this time to help stimulate the economy to recover from the losses incurred. The U.S. Government has released a total of 3 stimulus checks so far, with the latest being in March 2021. It is important to note that every tax-paying citizen is not allow to take these checks. With the release of the third check, people have been wondering will child support take the third stimulus check or not.

3. Although these checks were aim to uplift the status of the economy, many individuals who owe a lot of debt could not receive the associate benefits, even though they qualify for a stimulus check. The reason behind this was the various kinds of debt. Let us see the effect of different kinds of debt on the beneficiaries of the three stimulus checks, to answer questions like “Will child support take stimulus?” Will Child Support Take The First Stimulus Check Source: gannett-cdn.com Let us start by looking at who was eligible for the first stimulus check: ● Individual Resident of U.S.A.: Adjusted Gross Income (AGI) of less than $99,000. ● Individual Resident Alien: AGI of less than $99,000.

4. ● Head of Household: AGI of less than $146,000. ● Joint Filing: AGI of less than $198,000 if filling without children. Also, it was mandatory for every individual claiming a stimulus check to have a valid Social Security Number (SSN). For the couples filing jointly, if either of the partners had an Individual Taxpayer Identification Number (ITIN), then they were not eligible for this. However, the partner who had a valid SSN could claim their check. For the individuals who were not filing the tax returns, for example, railroad workers, the Internal Revenue Service (ISR) was automatically delivering the stimulus checks to them. The first stimulus check amounted to $1200 per person, or $2400 if applied jointly. It also has $500 additionally for every child, if applicable. When the first stimulus checks were received, the beneficiaries, who owed a debt to child support or some other private entity, could not avail the money. This was because the IRS had the right to confiscate their payment and use it to pay their debts. Thus, either these people didn’t receive the checks, or they receive the amount that was reduce by the amount of the debt.

5. Will Child Support Take The Second Stimulus Check Source: poynter.org After looking in detail at the first stimulus check, let us now analyze the second one. Here are the eligibility criteria for the second stimulus check: ● Individual Resident of U.S.A.: Adjusted Gross Income (AGI) of less than $99,000. ● Individual Resident Alien: AGI of less than $87,000. ● Head of Household: AGI of less than $124,000.

6. ● Joint Filing: AGI of less than $174,000 if filling without children. For the second stimulus check, the restrictions for the SSN were lift a bit. Now, even if one spouse had an SSN, then both the partners were eligible to claim for the second stimulus check while filing jointly as a couple. The criteria for non-taxpayers remain the same as before. The amount for the second stimulus check was lower for the independent citizens and higher for the dependents, as compared to the first stimulus check. Both the independents and the dependents received $600 per person. The couples who applied jointly received a total of $1200. Now, you may think,” will child support take the second stimulus check as well”? Here is the answer: The problems face during the first stimulus check were partially take care of when the second stimulus check was release. People who were behind in their child support payments, could still receive their checks and avail the benefit. This was done keeping in mind that people who are falling behind in the child support payments may need the money for themselves as well. This change had mixed opinions because while it was good for those who were behind in the child support payments, it was not so good for those who were on the receiving end of these payments.

7. Will Child Support Take The Third Stimulus Check Source: cnet.com Last but the most important, is the third stimulus check. The question of that ‘will child support take the third stimulus check’ has been bothering people since the bill has been passed. Here is the eligibility for U.S. citizens who can claim their Stimulus check: ● Individual Resident of U.S.A.: Adjusted Gross Income (AGI) of less than $80,000. ● Individual Resident Alien: AGI of less than $80,000. ● Head of Household: AGI of less than $120,000. ● Joint Filing: AGI of less than $160,000 if filling without children.

8. The criteria for non-taxpayers once again remain the same. For individuals who were not filing the tax returns, for example, railroad workers, the ISR was automatically delivering the stimulus checks to them. The rules regarding the SSNs were again altering this time. This time, any family member irrespective of their age was eligible to claim the benefit if he or she has a valid SSN. This is true even if one spouse or the parents are not eligible. For example, if a parent does not have an SSN but the other parent and the children have it, then the other parent and children are eligible for the third stimulus check. The receivable amount was higher this time than the previous two checks. Every individual was entitle to $1400, whereas couples applying jointly received $2800. Each dependent person was also eligible for the same amount. The issues regarding the IRS and other agencies confiscating the stimulus check for paying off debt were further resolve during the release of the 3rd stimulus check. The government now forbids the IRS from confiscating the check for paying debts. These checks cannot be confiscate to pay state or federal debts as well. This makes sure that the purpose of giving stimulus checks, that is to stimulate the economy, is achieving and not hinder by debt payments using that money. It is important to note here that just like any other scheme, it has some exceptions where the checks can be confiscated. You can learn more about them here. Will college students get the third stimulus check? Yes. This is because the third stimulus check didn’t have any age restrictions as long as the beneficiary has a valid SSN.

9. Source: yimg.com Conclusion When the economy is suffering, the government takes the responsibility to make things better. One such activity of the U.S. Government was the release of the Stimulus Checks. As the economy is suffering from the adverse effects of the Coronavirus Pandemic, the U.S. government recently provided 3 stimulus checks. These checks boost the economy by giving money to the common people to spend in the retail market. However, the first check face some issues as many recipients of this benefit owe debts and this stimulus check was confiscating to pay them back. These issues were take care of gradually while releasing the second and third stimulus checks. The third stimulus check covered those under child support debt and the college

10. students as well. This answers your question “will child support take the third stimulus check”. For more finance-related concepts you can have a look at the FinanceShed, and stay tuned for more updates. Contact Us : Website: https://financeshed.net Email Id: financeshedd@gmail.com To Connect With Us Visit