Millions of Americans have already received their stimulus checks as a part of the American Rescue Plan, and several others will receive them in the coming weeks.
But there’s a case for people to return their stimulus checks to the federal government, opting out of the $1,400 payment (or more for families) that might help them in the long run.
NEXSTAR recently reported that there are groups who should consider giving back their stimulus checks.
- Ineligible residents — Anyone who wasn’t eligible to receive the stimulus check but received one may want to send it back to the IRS, according to NEXSTAR.
- Anyone who can’t cash the check — Some people might have received a check for a loved one or spouse, who has already passed away, per NEXSTAR. Since the check can’t be cashed, it might be worth returning.
- People who don’t want or need the cash — If you don’t need the stimulus money, you could return it, too. This is more for people who don’t want to accept the check due to moral obligations, according to NEXSTAR.
Will there be a fourth check?
- Recently, multiple senators — including Sens. Ron Wyden of Oregon, Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont — all sent a letter to President Joe Biden that requested for Americans to receive “recurring direct payments and automatic unemployment insurance extensions tied to economic conditions.”
- In another move, 53 representatives sent a letter to President Biden and Vice President Kamala Harris that called for more stimulus payments.
But, per CBS Detroit, it’s unlikely there will be another stimulus check since the economy will start to roll again due to the high vaccination numbers and the cash earned by the third stimulus check.