Economic Impact Payment

Economic Impact Payments, often called stimulus checks, are direct financial aid provided by the government to individuals and families during times of economic hardship. Their purpose is to boost consumer spending, support household needs, and stimulate the economy. These payments are typically distributed automatically to eligible taxpayers based on recent tax filings or income information. The amount may vary depending on income level, filing status, and family size, and may be issued in one or more rounds. Essentially, they serve as a financial safety net to help people weather economic disruptions.