Stimulus Check Update: Some Americans Eligible for $1,400 Payment This Year



While Congress has yet to pass legislation that would provide Americans with a new round of stimulus checks, some people could be eligible to receive a $1,400 payment in 2022.

The third round of stimulus payments went out from the Internal Revenue Service (IRS) last year, with eligible Americans receiving $1,400. However, people who never received their third checks or received the wrong amount can file for the payment in their 2021 tax return.

The opportunity to receive the 2021 Recovery Rebate Credit comes just ahead of the April 18 tax-filing deadline.

“The IRS has issued all first, second and third Economic Impact Payments. Most eligible people already received their stimulus payments and won’t be eligible to claim a Recovery Rebate Credit,” the IRS said on its website. “People who are missing a stimulus payment or got less than the full amount may be eligible to claim a Recovery Rebate Credit on their 2020 or 2021 federal tax return.”

According to the IRS, taxpayers should first check their bank account records to verify if they have received the third round of stimulus payments from last year.

If bank records show that the third stimulus payment was not received, taxpayers should contact the IRS and attempt to use the agency’s “payment trace” feature.

“If an individual hasn’t received a third-round payment or any information from the IRS, they should check their eligibility. If they’re eligible, they may claim the recovery rebate credit on their 2021 return,” the IRS said.

The third round of stimulus payments was based on a person’s 2020 income and tax information, therefore, individuals may be eligible to receive the Recovery Rebate Credit through their tax return if they added a dependent in 2021, their income went down, or are no longer considered a dependent on someone else’s tax return.

“Lower income in 2021 could make you eligible to claim the 2021 Recovery Rebate Credit,” the IRS said on its website. “If an individual became your dependent in 2021, including by birth or adoption, you may be eligible to claim the 2021 Recovery Rebate Credit for the dependent on your 2021 tax return that you file in 2022.”… Read More

Source By : newsweek

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