Stimulus check update: Here's what we know about chances of fourth and fifth payments

With millions of taxpayers across the US are obtaining payments from the third round of COVID relief money, many are questioning the chances of a fourth and fifth stimulus round.

The question of whether there will be two more rounds of stimulus payments comes as White House press secretary Jen Psaki revealed that President Joe Biden could be open to a fourth stimulus check, insisting that "he’s happy to hear from a range of ideas."

Read our stimulus checks live blog for the latest updates on Covid-19 relief…

Fourth and fifth stimulus payments — which would come after the $1,200, $600, and $1,400 checks — seem possible as the White House appears to be open to the idea of future relief money.

House of Representatives Ways and Means Committee members recently submitted a letter to Biden about the possibility of two additional stimulus checks, according to FOX-affiliate WBFF.

The official letter, signed by a handful of congress members and dated May 17, 2021, said future relief payments could keep around 12million people out of poverty across the US.

"While UI [unemployment insurance] replaces lost income for those out of work, direct payments are crucial for supporting struggling families that fall out of its reach," the letter reads. "This includes the millions of workers that do not qualify for UI after having their hours reduced, switching to lower-paying jobs, or temporarily leaving the workforce to care for family members."

The letter recalled Biden's Jan. 21 pledge to "work with Congress on ways to automatically adjust the length and amount of relief depending on health and economic conditions" and urged him to prioritize "both automatic UI extensions and recurring direct payments tied to economic conditions."

Weeks after the letter was sent to Biden, Psaki was was questioned at a June 3 press conference on future stimulus checks and if the president supports the idea.

"The President is certainly open to a range of ideas," Psaki said.

She added: "And there are some who are proposing making the Child Tax Credit permanent. There are some who are proposing additional stimulus."

Psaki said Biden will welcome the "most effective" idea, especially if they help the economy thrive.

Taxpayers who have not yet received their third round of COVID cash relief are advised to check the IRS’s "Get My Payment" tool.

Stimulus check statuses can be obtained through the virtual hub and offer an expected date of how qualified recipients will get their money.

"Each week we're sending the third round of Economic Impact Payments to eligible individuals as we continue to process tax returns," the site explains.

Meanwhile, the IRS has advised people who feel they will never receive their payment not to give up hope.

"If you haven't received a payment yet, it doesn't mean you won't," the IRS notes.

Taxpayers will see their payments arriving in one of three ways: direct deposit, paper check, or via a debit card.

And this week, the IRS counted 2.3million additional stimulus checks that have been sent out to households as part of its latest batch of financial support.

Payments sent out to people across the U.S. within the last two weeks include more than 1.2million direct deposit checks tallying $2.2billion. The rest of the money was sent out in paper form.

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