Stimulus Check Update: You’ll Stop Receiving Plus-Up Payments from December 31
December 31, 2021, may be the last day for plus-up payments.
The additional plus-up payments were available to those whose incomes fell in 2020 compared to 2019. However, those payments may no longer be available at the start of 2022.
Until When Can I Claim Plus-up Payments?
As per the IRS, eligible taxpayers must receive payments latest by December 31, 2021.
Usually, within two weeks of filing your 2020 tax returns, you will receive the Economic Impact Payments separately from your tax refund. Until the December 31 deadline, the payments will be sent every week.
What Is The Eligibility For Plus-up Payments?
IRS guidelines state that additional payments are available if an individual’s income declines in 2020 compared to 2019. Additionally, a new dependent must be added to the individual’s household in order to qualify.
As long as recipients met certain eligibility criteria and income thresholds, the third batch of Stimulus Checks included $1400 per individual, and $1400 per individual will be received.
In 2020, you can also claim a new dependent on your taxes to qualify for plus-up payments. Your payments may increase by 1,400 dollars if you had a newborn child.
Additionally, those who claimed disabled or aging dependent on their taxes in 2020 may also receive similar treatment. In contrast to the first two Stimulus Checks, those with elderly or disabled dependents were eligible for the third round. An individual might have a family member who was elderly or disabled or even a college student under his/her care.