Connect with us

Hi, what are you looking for?

Personal Finance News

Thousands Of Americans Living Abroad Got Stimulus Checks – Check If You Are Eligible

Why did Covid-19’s economic impact have to be checked? Most of the globe was hit really bad and the economic downturn was a major hindrance for several who lost their jobs.

Especially those Americans who stayed abroad, federal data showed that the stimulus checks could minimize the impact. A panel of experts ranging from US lawmakers to policy funding strategists came together to set up a sound rationale for funding the Americans overseas.

Why stimulus checks were needed

However, aspersions were cast on the extensive net and whether the payments would go to the right places as people thought. Eyebrows were raised and questions asked if they needed to go there, but the critics also knew they had to because the help had to reach those who most needed it, especially during a humanitarian crisis.

According to agency statistics made available, the IRS issued 3.7million worth of payments to individuals residing outside of the country. These figures include the three pandemic waves. The list of people who got these benefits includes US citizens living on foreign shores, military members who have stayed on duty overseas and citizens who stay in US territories.

How much spending was done

 Statistics show that about 9 million US citizens reside on foreign soil and the stimulus checks that have now been issued be beneficial for them to continue living without hindrances. They now happen to qualify, all thanks to the expansive eligibility framework that the US lawmakers have set up.

The payments aren’t as significant compared to the three rounds of funding of 472 million that happened to be issued. The scale of overseas funding happens to be less than 1% when you looked at figures sent out by the IRS three times in the pandemic was $1,200 per person in March, $600 in December, and $1,499 in March following year.

How do they work?

The funds happen to be advance payments to a refundable tax structure which come with the recovery rebate credit. These advance payments also called stimulus checks or Economic Impact payments, have been formulated to boost the US economy to generate the demand for goods and services. Only the households with enough money will get back to purchasing, which was made possible through these stimulus checks. 

1 Comment

1 Comment

  1. Amy Swanson

    December 27, 2021 at 9:05 AM

    There have been all these great stimulus payments going out to the Americans.. and yes especially the families with children because the children should always come first but… Why is it all of these stimulus checks and every one of them seem to be just for families with children. What about the Americans that don’t have children? Why is it we deserve no help? Isn’t there someway to help us. I’m living in a condemned home because I do not have the means to get a safe place to live. I have a great job but I can’t afford to get a vehicle to even get back and forth to work. I and I’m sure theres alot of others that could really use the help of stimulus. A way to get the desperately need home or that car to be able to get to work. We people without kids could also benefit for at least some of this stimulus money. But because we do not have children where is our help? Why can’t we get any stimulus help that is so desperately needed?

Leave a Reply

Your email address will not be published. Required fields are marked *


Us News

The Social Security beneficiaries are worried about the fate of payroll taxes in 2022. Several factors are involved in calculating these taxes, including wages,...

Personal Finance News

As per, more than 169 million stimulus checks were given out to approved Americans in the third round, and some are calling for...

Us News

Credit cards are convenient and yet they are not for everyone. If you are someone who misses payment deadlines, you should avoid credit cards...

Cryptocurrency News

Walmart is the latest big business house to enter the world of Cryptocurrency and NFT. The retailing giant is taking the first tentative steps...

Us News

When it comes to personal finance, the first thing that any expert will tell you is not to earn more, but to save more....

Us News

The US families have received half of the child tax credit payments in 2021; IRS will issue the remaining payments while the parents file...