fbpx
4.5 C
London
Tuesday, December 6, 2022

Stimulus Check Reality Update

Millions of American families could still be eligible for their stimulus check this year, but time is running out to claim it. The IRS announced recently that people who did not get their first-round stimulus payment last year might still be able to get it but only if they file taxes this year and use the Recovery Rebate Credit on their 2022 tax return. This credit can be claimed on 2022 tax returns even if the taxpayer receives an Economic Impact Payment after filing their return, the IRS said in a release.

If you made less than $72,000 in 2021, a federal stimulus payment is available to you.

- Advertisement -

If you made more than that amount, but still didn’t make enough to pay off your debt before the end of the year, there’s another chance: The IRS will send out tax refunds for those who filed by April 15th.

Stimulus Check For Many

To find out if either of these options applies to you, check on or after May 1st with the Social Security Administration or U.S. Department of Education – whichever agency paid out your benefits for 2021 – for an estimate of how much stimulus check money may be owed back to them from previous years’ returns where no repayment was required (if neither agency has paid out benefits this year yet).

But if you don’t have a tax filing requirement and didn’t receive an Economic Impact Payment (EIP) or stimulus check earlier this year, time is running out to claim your payment.

- Advertisement -

If you haven’t filed your taxes yet, the IRS has extended their deadline to register for the ‘Non-Filers: Enter Your Payment Info Here’ tool on its website. The original deadline was October 16, but it has been extended until Tuesday, November 21.

The tool allows you to enter information about yourself and your family members so that when tax season comes around again next year and you do file your taxes, you won’t have to complete all that paperwork again. If you owe money in back taxes or late fees, this will also give them access to those records so they can send out notices and make payments using direct debit from your checking account.

- Advertisement -

Follow Us

16,985FansLike
4,865FollowersFollow
1,643FollowersFollow

Latest news