Families in the United States Will Get $1,400 in Stimulus Checks. Check to Make Sure You’re Eligible
As part of the American Rescue Plan, stimulus checks were given to people in the United States in 2021. They can get the money back when they file their taxes in 2022. The people who were eligible but didn’t get the money can get it back then. At the end of March 2021, President Biden launched the American Rescue Plan with a value of $1.9 trillion. The people who qualified got $1,400.
The annual income threshold was used to make sure that the beneficiaries could get help. If you or your spouse made less than $75,000 a year last year, you got a stimulus check. If you or your spouse made less than $150,000 a year last year, you got a stimulus check.
People who make $80,000 each year are also eligible for smaller checks. People who make less than $160,000 each year are also eligible for stimulus payments. In the reports, they say that more than 170 million people got stimulus payments.
The Internal Revenue Service gave out 171 million stimulus checks worth more than $400 billion to people in need. The IRS didn’t change people’s tax information. They sent the checks based on their 2019 income tax returns, which they didn’t change. People need to make sure their 2021 information is up to date so they can get stimulus benefits.
The Irs Will Decide if Someone Is Eligible Based on the Most Up-to-date Tax Information They Have
People who made less money in 2021 than they did in the previous years will now be able to get money. When people file their taxes, they will get a third stimulus check if they make less than the threshold amount. Low-income families will also get help from the stimulus. People who depended on other things in 2021 will also get help from the stimulus. There is no age limit on how much money the dependents can get from the government. Some of the people who did their taxes in 2019 and 2020 will also get the money from the government. Those who don’t file taxes can use specific ways to get the benefits.
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Taxpayers Can Get the Money Back Through a Credit Called the “Recovery Rebate.”
A credit called the Recovery Rebate Credit lets people who qualify get back some of the money they got from the stimulus. This means they can lower their taxes for 2021. There is a time called “tax season” at the end of January every year. The IRS hasn’t said when tax returns can be filed for the year 2021. This is the last day to file your income tax returns. It is April 18, 2022. Citizens need to keep track of the dates that the IRS gives out to them.