Everything You Need to Know About the Plus-Up Payment and How to Get It?

If in 2020 one received a stimulus check based on one’s 2019 tax return or information from the Social Security Administration, the United States Railroad Retirement Board or Veterans Affairs, one might be eligible for a larger payment based on one’s 2020 tax return. This extra stimulus is Plus-up payments.

The Plus-up payment is the difference between the amount received based on one’s 2019 return and the amount one is eligible to receive based on one’s 2020 return. For example, if your 2019 income was above the threshold for the full stimulus payment but your 2020 income was less than the threshold amount, you received a smaller payment than you were entitled to if it was based on your 2019 return.

All that is required by a recipient to qualify is to file both 2019 and 2020 tax returns. The IRS will process your payment if it’s confirmed that you are eligible.

The Plus-up payment comes separately from the 2020 tax refund and other stimulus payments. It might come in the form of a check regardless of whether you received other stimulus payments by direct deposit or debit card.

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On the IRS portal is the ‘Get My Payment’ tool which can be used to find out whether one is eligible for the Plus-up payment. If you do not ordinarily file taxes, make under $75,000 or have no income, you can use the Free File tool to claim your stimulus payment as a tax rebate.

It is important to check the IRS portal for information about the plus-up payments in the next few months.

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