$1,400 Stimulus Check: Does the IRS Owe You This Significant Benefit?
The Internal Revenue Service may have a stimulus check payment for you. Those who qualify can receive it by filing a 2021 tax return.
The IRS advises that the fastest and easiest way to get the said tax refund is to file a return electronically and choose direct deposit. They can also use tax software, online services, or a tax advisor.
To avail of the full $1,400 stimulus check, you should be an individual with an adjusted gross income of $75,000 or less. Meanwhile, the ceiling for joint filers is $150,000, and exceeding $160,000 will deem you ineligible for a stimulus check payment.
Non-filers could have also missed out on the expanded Child Tax Credit, which can be worth as much as $3,600 per child.
The IRS may owe you money based on pandemic-related stimulus check payments you may not have received.
Many of those who did not receive such may not have had to file tax returns and may also have missed credits related to child care.
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Get the $1,400 Stimulus Check Payments
The IRS has a Where's My Refund tool, which is updated daily so that recipients do not need to check more often.
Tax filers can use the tool to check the status of their return within 24 hours after e-filing the tax year 2021 return; three to four days after e-filing the tax year 2020 or 2019 return; and six months or more after filing a paper return.
The IRS sent letters to more than nine million families in October. Those who have received the letters have not filed their federal tax returns, alerting them that they may still qualify for these credits.
The letters were similar to notices the agency sent in September 2020, which also alerted nine million non-filers that they could be missing the stimulus checks that were sent that year.
To claim the stimulus check, eligible people can use a simplified filing tool that will allow them to submit their information.
However, the deadline to file the 2021 tax credits is already past the deadline, which is November 15.
Roxy Caines, earned income tax credit campaign director at the Center on Budget and Policy Priorities, said that it is not the very last deadline as people can still claim tax credits that they are eligible through Tax Day 2025.
IRS Payments
Aside from stimulus check payments, the 2021 Child Tax Credit can still be claimed by those who have missed the tax filing deadline.
The tax credit was temporarily boosted in 2021 to a maximum of $3,600 per child. The funds were distributed on a monthly basis to help struggling families have a stream of guaranteed income.
Weeks after child tax credits were repealed, cases of child hunger started to increase again. Food insufficiency increased by 25% in July after payments ended in January. Black, Hispanic, Indigenous, and immigrant families were hit the hardest.
Negotiators in Congress say they are working on tax provisions, adding that getting a spending deal done is a high priority before the new House majority takes over in 2023.
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This article is owned by Latin Post.
Written by: Mary Webber
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