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Stimulus checks are payments issued by the government to individuals and households as part of an economic stimulus package. The goal is to provide financial aid that can help people make ends meet during difficult times, such as a recession or pandemic. Stimulus checks have become increasingly popular in recent years due to the COVID-19 pandemic and other economic crises.
Eligibility for Stimulus Checks
In order to be eligible for a stimulus check, you must meet certain criteria set by the federal government. Generally, these include having a valid Social Security Number (SSN), filing taxes with either an individual or joint return, having US citizenship or permanent residency status, and earning less than $75000 per year if filing individually ($150k for joint returns). It is important to note that those who receive Social Security retirement benefits may also be eligible for stimulus payments even if they do not file taxes. If you believe you qualify but haven’t received your payment yet, it’s best to contact your local IRS office directly.
How Cryptocurrency Can Be Used With Stimulus Payments
The use of cryptocurrency related activities in connection with stimulus checks has become increasingly popular over the last few years due largely in part to advances in digital wallet technology and increasing public awareness of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). While some people opt to convert their stimulus money into crypto instead of using it elsewhere; others use their crypto balances as payment when purchasing goods online or offline without converting back into fiat currency first – thus taking advantage of discounts offered by merchants accepting cryptos as payment methods. Additionally, many exchanges allow users to purchase additional coins using funds from their bank accounts after receiving a direct deposit from the U.S Treasury Department – meaning those who don’t have any existing crypto holdings can still benefit from buying more digital assets at discounted rates via credits obtained through their Economic Impact Payment (EIP).
