Congress approved three rounds of stimulus payments. Each was for different amounts, and the third allotment has different requirements than the first two. However, some individuals did not get their total amount due to the timing of disbursements.
Luckily, you still have time to claim your stimulus checks if you missed one or did not get your full amount. The government is issuing Plus-Up Payments if you received less than you should have. Find out how much you can get and how to file a claim for government cash.
Since the beginning of 2020, the federal government has authorized the following three Economic Impact Payments:
- The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
- The COVID-related Tax Relief Act of 2020
- The American Rescue Plan Act of 2021
The Internal Revenue Service (IRS) used the most recent tax information to determine who qualifies and for how much. Unfortunately, many individuals did not file their 2020 taxes before the IRS issued the first checks. Some taxpayers missed their payments because the government looked into their 2018 or 2019 tax filings.
The government may send you a Plus-Up Payment if you should have received a higher payment. This can happen if your income decreases, you have a new dependent in 2020, or other situations occurred that qualify you for payments.
The third stimulus provided qualifying adults with $1,400, and parents could receive monthly payments of $250 to $300 for each child up to either $3,000 or $3,600. For example, if you had a child in 2021, you may have missed up to $3,600 since it would not have been on your 2020, 2019, or 2018 taxes.
If you missed out on your full compensation, you could claim the first two payments when you file your 2020 taxes. If you do not receive it, you will need to claim the third check on your 2021 taxes.
You can still qualify for payments if you do not file taxes. The IRS has a Non-filer Sign-up Tool that lets you claim any stimulus payments and the Child Tax Credits. You can also create a profile to view your most recent payment’s amount and status.
The first two payments had the same requirements, while the third round adjusted some of the criteria. Next, check out the requirements and amounts for the first two stimulus checks.
By Admin –
