Stimulus Check Update: Americans Have Just A Single Month For Claiming $5,000

Stimulus Check
Stimulus Check

Taxpayers who believe that they could be receiving a stimulus check payment or CTC payments must be on hand to file their taxes by the 18th of April. As we already know, the stimulus payments form a part of the American Rescue Plan– which was signed by the POTUS in 2021. The checks did have a worth of $1,400 per adult. The IRS stated that it issued close to 175 million checks worth $400 billion as reported last year. The CTC was increased from $2,000 to $3,600 in 2021 under the American Rescue Act.

Stimulus Check Deadline Arriving Soon

From the July of last year to December, most of the eligible parents received a stimulus check payment of $300 per child. However, for most families, the payments never really made it to their accounts. In certain situations, they also refused to receive the payments. Families who were deemed eligible for the expanded federal CTC and did not receive the payments will now be able to claim the entire amount when they first filed their taxes. For those parents with children under the age of six years old, the total will come to a sum of $3,600, while families with children above that age will receive $3,000. 

Those who think that they deserve a stimulus check payment must claim the Recovery Rebate Credit in order to see if they are eligible. However, the deadline for the filing of taxes this year falls on the 18th of April- so you might need to act very fast. Those who also received a child tax credit payment should have received a letter from the IRS that detailed how much they would be receiving in advance payments. Folks who think that they are eligible for the CTC and did not receive any of the payments the last year should fill out Schedule 8812. 

If you aren’t comfortable enough to file your own taxes in order to receive a stimulus check payment, you should go out and consult a tax professional.