The Treasury Department, the Bureau of the Fiscal Service, and the Internal Revenue Service (IRS) rapidly sent out three rounds of direct relief payments during the COVID-19 crisis, and payments from the
third round continue to be disbursed to Americans. Starting in March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided Economic Impact Payments of up to $1,200 per adult for eligible individuals and $500 per qualifying child under age 17. The payments were reduced for individuals with adjusted gross income (AGI) greater than $75,000 ($150,000 for married couples filing a joint
return). For a family of four, these Economic Impact Payments provided up to $3,400 of direct financial relief.
Normally, a taxpayer will qualify for the full amount of Economic Impact Payment if they have AGI of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household, and up to $150,000 for married couples filing joint returns and surviving spouses. Payment amounts are reduced for eligible individuals with AGI above those levels.
Check the Status of Your Economic Impact Payment
While a fourth stimulus check is extremely unlikely to happen, the last dregs of the third check are still hanging around. These are taking the form of plus-up payments, bridging the gap for those whose situation has changed between submitting their 2019 and 2020 tax returns. But there is a catch, applicants have until the end of the year to submit their 2020 tax returns and receive the money, or it will not be able to be claimed. Related news:
What are plus-up payments?Plus-up payments are additional payments for people who received the third stimulus check using their 2019 tax return. If they became eligible to receive more money due to changes in their 2020 tax return, then they are eligible to receive the difference as a tax deduction. People who are eligible for the payment will be those whose income reduced in 2020 or added a dependent to their tax return. When is the deadline to receive the payment?Plus-up payments are sent separately from your 2020 tax refund and previous stimulus check payments. They are normally issued within 2 weeks from the time your 2020 tax return is processed. The IRS are sending plus-up payments to eligible taxpayers every week until the deadline of December 31, 2021. Basically, you have to get your 2020 tax return processed as soon as possible. It is possible to check the status of your plus-up payment with the Get My Payment tool. How can it be received?The IRS needs your 2020 tax return in order to see if you are eligible to receive the plus-up payment. If you need to file a federal tax return for 2020 and have income of $72,000 or less, you can file your tax return electronically for free with the IRS Free File Program. If you are not required to file a tax return, you may use the Non-filer Sign-up Tool. You do not have to have children or qualifying children to use this tool to receive your third Economic Impact Payment. Who gets the plus up stimulus check?If you are a taxpayer in the USA and your income was lower in 2020 than it was in 2019, then you are entitled to receive a plus-up payment. 2021 was another year of disruption so if you earned less than you did in 2020 as a result, you could be entitled to more plus up payments at the end of this tax year.
Who all will get a plus up payment?Plus-up payments are an extra stimulus payment sent out to those who received a stimulus check based on a 2019 tax return or information received from the Social Security Administration, U.S. Railroad Retirement Board or Veterans Affairs and might be eligible for a larger payment based on their 2020 tax return.
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Who is eligible for the plus up payment
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