Check Your Eligibility: Which Families Will Receive a $1,400 Stimulus Check in 2022?
As a result of the American Rescue Plan in March 2021, the IRS began paying Economic Impact Payments (EIPs) to approximately 169 million Americans. To boost household finances in light of the ongoing epidemic of covid-19, taxpayers had received direct payments of up to $1,400 for every eligible adult, child, and household. But not everyone who was eligible received the payments.
Payroll payments were automatically sent to taxpayers based on the data they provided, either through an online portal for nonfliers or from tax returns filed in 2019 or 2020. The tax agency would not have paid anyone who they were unaware of their existence, but that oversight can be corrected in time for the 2022 tax season.
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In 2022, Filing a 2021 Tax Return Could Earn the Taxpayer Thousands of Dollars
There were a number of tax provisions included in the American Rescue Plan to assist struggling households throughout the country. One of the most prominent stimulus checks was the $1400 check for the third time. Nonetheless, other measures will specifically target families with kids and dependents, among them the Child Tax Credit 2021, the Child and Dependent Care Credit, and the Earned Income Tax Credit. Workers without children or dependents can also claim the last one.
In all three EIP programs, non-filers and those who failed to provide their information via the Non-Filer online portal were excluded. Families that recently welcomed a new member to their household are another group that misses out on the third stimulus check. They will still be able to claim the potential $1,400 payment on their 2021 tax return since the IRS didn’t previously have their filing information.
In addition to the third direct payment and other enhanced tax provisions, Americans who file their tax returns for 2021 in 2022 may be eligible for other enhanced tax provisions as well. A larger tax return or even thousands more off may be possible by taking advantage of these. Parents can claim up to $3,600 as a child tax credit for any newborn or adopted child under six years of age and up to $3,000 for any child six to 17 who has not already been declared as a dependent on the 2020 taxpayer’s filing.
#IRS outlines steps you can take now to make tax filing easier. Check out how easily you can #GetReady for 2022: https://t.co/euXvWvFRwU pic.twitter.com/p8xvfXXvgv
— IRSnews (@IRSnews) December 13, 2021
How to Claim the $1,400 Stimulus Check
The number of Economic Impact Payment (EIP3) that was due to newly-born or adopted families in 2021 will be calculated using the 2021 Recovery Rebate Credit. This is for taxpayers who did not receive all of the direct payment amounts due to them being affected.
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If the IRS sent you documentation about the EIP3 or “plus-up payments,” you should review it. If you lost the letter from the agency, you can access your federal tax account through the IRS website to get the necessary information. It is possible to delay the processing of your tax return, and thus the amount of your refund if you plan to claim more of the credit than you are due.
To receive the 2020 Recovery Rebate Credit, taxpaying residents who have yet to receive the first two Economic Impact Payments (EIP1 and EIP2) will need to file the 2020 1040.
The Qualification for a Third Stimulus Check
Congress has passed three stimulus checks with the same income requirements. If a single tax filer earns less than $75,000, ahead of household must make less than $112,500, and a married couple filing jointly must make less than $150,000
