A Federal Stimulus Check Could Be Waiting For You: Avail Of Your Final Chance

Stimulus Check
Stimulus Check

US citizens could still be in line for a $1,400 stimulus check for each person. Income tax filers who are yet to receive payment can claim their payment through a credit on the federal income tax return for 2021 before the deadline on the 18th of this month.

99.5% of the stimulus check payment under the American Rescue Plan signed by President Joe Biden last March has been delivered through direct bank credit or paper checks paid through the US postal department. The payment was a relief for people who were struggling during the peak months of the pandemic when the whole economy ground to a standstill.

The relief check amounts were calculated in 2021 based on 2019 and 2020 income tax returns and the details with the IRS at that period. Any changes in income or the members of a tax filer’s family were not updated for 2021. Any addition to a taxpayer’s family or drop in income could make them eligible for a $1,400 stimulus check.

People Who Reported Drop-In Income May Also Be Entitled To A Stimulus Check

Many citizens may have totally missed the third stimulus check. For instance, people who had income too low to necessitate the filing of tax returns were not on the records of the IRS and may have missed out on the payments.

The 3rd round of Economic Impact Payments is worth as much as $1,400 a person. A family consisting of the parents and two children may get a stimulus check of up to $5,600 if they come within the annual income criteria.

Dependents of all ages are eligible for the full amount of the stimulus check. Earlier dependents below 18 were eligible for the payment.

Taxpayers who reported a drop in income in 2021 may also be eligible for the stimulus check if their income has fallen to within the $75,000 AGI limit for individuals and double that for married couples filing jointly.