Americans can still receive this year’s $1,400 stimulus payout.
But there are standards to fulfil to be eligible to receive the funding in 2022.
People who were eligible for the third round of stimulus checks that were issued in 2021 but haven’t yet received them will be given the additional payment.
The remaining checks are payable to eligible taxpayers who file their 2021 tax returns this year.
How to Obtain Your Funds
Eligible Americans will have the opportunity to apply for a Recovery Rebate Credit during tax season to obtain the money that the Internal Revenue Service (IRS) owes them.
Find out if you’re one of the millions who will receive $500 stimulus payments by September.
Are Social Security and SSI recipients eligible for a fourth stimulus payment?
For purposes of the third round of checks, individuals must have an adjusted gross income (AGI) of no more than $75,000, and married couples filing jointly must have an AGI of no more than $150,000.
The filing deadline for 2021 federal tax returns passed on Monday, April 18.
Those who asked for an extension had till Monday to do so.
Who May Apply?
People who modified their tax situation in 2021 but did not update their most recent tax return are entitled to the funds.
For instance, assuming they match the income standards, parents who had a kid in 2021 might be eligible for the $1,400 payments.
For the third round of stimulus checks, which were given out in 2021 as a part of President Joe Biden’s American Rescue Plan, a family’s most recent tax return was used to establish their eligibility.
Because 2021 newborns weren’t taken into account, the $1,400 checks will be applied to the parent’s or guardian’s 2021 tax return.
Other people might additionally qualify for more money due to a change in income or the addition of a dependent.
The $1,400 stimulus payment for this year is still available to Americans.
But to qualify for the cash in 2022, certain requirements must be met.
The additional payment will be paid to those who were qualified for the third wave of stimulus checks that were distributed in 2021 but haven’t yet gotten them.
Payable to eligible taxpayers who submit their 2021 tax returns this year is the remaining checks.
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Payments for those who earn more over certain thresholds will be phased out.
Couples making over $160,000 and individuals making over $80,000 completely fade out of the system.
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Individuals must have an adjusted gross income (AGI) of no more than $75,000 for the third set of checks, and married couples filing jointly must have an AGI of no more than $150,000.
On Monday, April 18, the federal tax return filing deadline for 2021 was reached.
The deadline for those who requested an extension was Monday.
