It’s 2022 already. Tax season for many has started. Indeed, you might want to add some extra income in the form of stimulus checks or tax rebates.
This article focuses on how much in terms of stimulus checks you are eligible for and how to go about claiming such payments and tax rebates during this year’s tax season. Read on if you are interested.
President Biden’s Stimulus Checks
So, to begin – Congress passed three stimulus checks over the past three years to stimulate the economy and help struggle U.S. families and citizens cope during the COVID-19 pandemic. Last year in 2021 – two checks were paid out, one for $600 and the other for $1,400.
The stimulus check of $600 was coupled with a $1,200 sent out before it. According to CBS News, both formed parts of the Coronavirus Aid Relief and Economic Security Act implemented in March 2020. However, the stimulus check for $1,400 was instituted by the “American Rescue Plan, signed in March by President Joe Biden” last year. However, you need to be eligible to receive such stimulus payments or recovery rebate payments.
Eligible For Extra Payments?
If you have not received the full amount or any of your economic impact payments or stimulus checks last year and are eligible for it then read on to find out how to add some extra income this tax season.
Firstly, eligibility would mean you are a household with dependent children earning $75,000 or less filing a single tax return with the IRS or $150,000 if you are filing jointly with the IRS.
Furthermore, that is according to an article entitled: “Fourth Stimulus Check 2022: $1,400 payment on offer in the USA”, located on Marca, if you added a child to your family in 2021 – then you can become eligible for this stimulus payment.
However, as the economic impact payments or stimulus checks for 2021 were calculated off of the 2020 and 2019 returns – dependents or children added in 2021 will not have been included in the stimulus payment. Thus you can claim extra stimulus income if you add in dependent in 2021.
Lastly, all this must be done and included in your 2022 tax return and filed correctly if you want to claim. Also, remember that dependents and children must be under the age of 19 for you to be eligible. I hope this article has been helpful – don’t forget to comment!