The Internal Revenue Service and U.S. Treasury have confirmed that a hundred million more stimulus checks—totaling more than $420 billion—are on the way through direct deposit and traditional mail over the course of the next several weeks.

“The IRS continues to send the third round of stimulus payments in record time,” IRS Commissioner Chuck Rettig said in a statement. “Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks.” 

Despite the welcome cash windfall, many Americans who continue to struggle financially fear that the payments will only be beneficial for a month or two.

According to new research from the financial services firm TransUnion, four in ten Americans are still continuing to experience a loss of income compared to before the ongoing coronavirus pandemic started more than a year ago.

“38 percent of U.S. consumers said their household income remains negatively impacted due to the COVID-19 pandemic. … While 5 percent of the population has thrived during the pandemic—reporting no income drop and better than planned finances—another 3 percent are devastated by reduced income and don’t think they’ll ever recover,” the report wrote.

“For those whose income has been reduced, 8 percent are resilient saying their finances have fully recovered, and another 27 percent are hopeful saying their finances will recover. Thirty-five percent of all consumers report their financial situation is stable.”

It is believed that many middle- and upper-income households will likely put the stimulus payments into savings, stock investments, or purchase a new item they otherwise wouldn’t have bought, such as a laptop or video game console.

But most who are negatively affected by the pandemic will use the cash for basic living expenses, such as groceries, utilities, and the mortgage or rent.

Roughly one in five adults are “in limbo,” which TransUnion defines as those who have lost income and are unsure how their finances will recover—if at all.

It appears that the American Rescue Plan took note of that and is giving the most help to those with bigger families. Individuals who earn as much as $75,000 in adjusted gross income (AGI), or couples making $150,000—in addition to their children or adult dependents—qualify for the full $1,400 per individual.

If one qualifies for the maximum amount based on the AGI, and if the family has two adult joint filers with one dependent, then they would be eligible to receive a total of $4,200. With two dependents, the check would rise to $5,600, with three dependents $7,000, and so on.

Single parents with at least one dependent who earn $112,500 or less also get the full amount. Families in which some members have different citizenship and immigration classifications are eligible for a payment, if at least one person has a Social Security number.

The payments, however, phase out much more quickly than in previous rounds—an individual with an income of $80,000, or a couple with $160,000, will not receive a check.

Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.