Stimulus Check Update- Information About The Third Stimulus Payment

Stimulus Check
Stimulus Check

With the tax season of 2022 round the corner, there are a couple of things that one needs to know before they file for their 2021 tax return. The IRS, as we know, will start accepting most of the federal income tax returns for the tax year of 2021 on Monday, the 24th of July. So whether you end up filing by mail or electronically, you should make sure that you have all your forms and documents in order by that date if you enjoy getting the task done as soon as possible.

If you have already received the advance CTC stimulus check payments in 2021, you should be on the lookout for certain Letter 6419. This document will highlight how much the IRS had initially paid in the 1st Box. You could also check out the amount on the official IRS website if you actually have an account. 

Stimulus Check Payments And Child Tax Credits

Remember, if you use Form 1040 to file your taxes to receive the stimulus check payment, you might have to fill out Schedule 8812 which would help you figure out your child tax credits, and also report the advance child tax credit payments that one had received in 2021. It would also help one understand if they have any additional tax owed or if they had received any excess advance child tax credit payments during 2021. 

Also, for those filers who received a third economic impact payment- which has been referred to as a stimulus check payment, the IRS stated that it would mail you Letter 6475. Another way of getting to check the amount of your EIP would be to go through Notice 1444-C, which the IRS has already indicated was sent out by mail after the payments started to begin in March 2021.