Written By: Anushka
The fourth stimulus checks of $550 and $2400 are set for 2024 to help low-income Americans combat inflation.
Recipients must meet specific criteria, including filing a 2022 tax return, having an annual income below $59,187, and a net investment under $10,300.
More than 65 million citizens will benefit from these checks, which are intended to ease the cost of essentials like food and fuel.
Approximately 700,000 families will receive a $550 check, accompanied by a tax credit of 6% to 30%.
Eligible individuals over 62 will receive a $2400 check from Social Security, aimed at boosting their income.
These checks aim to provide financial relief to low and moderate-income Americans, boosting consumer confidence and expenditure.
The checks are expected to be distributed in February 2024, helping recipients cope with the high cost of living.