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Monday, October 3, 2022

Stimulus Check: Who Is Still Eligible And Can Get It?

For those who have not received the recent stimulus check of $1400, the money still can be paid out. Since March, when the third stimulus checks were authorized by Congress, approximately 159 stimulus checks have been delivered. The total worth stands at over $376B.

Third Stimulus Check: Who Is Left?

The stimulus amount can pay a maximum of $1400 to each adult and an additional $1400 for each adult dependent or child. Similar to the earlier stimulus checks, qualifying for the stimulus checks requires your AGI to be under a certain threshold. Specifically, for singles: $75000; for household heads: $112500; and for joint filers and married couples: $150000.

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However, the stimulus check will phase out much quicker this time around. The upper limits are specifically, for singles: $80000; for household heads: $120000; and for joint filers: $160000. AGIs higher than this will not qualify for the check.

There are more requirements as well, such as the necessity of being a citizen of the United States or a foreign resident. Even though $1400 payments have been mostly sent out, more are still on the way weekly.

Among those who are eligible for more, are the ones who will get the “plus-up” payment. Originally, the third check was calculated based on the tax returns of 2019. However, after processing the tax return of 2020, the deserved amount may be different. So if the check has already been sent, the IRS is going to send the difference as the “plus-up” payment.

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The case is similar for those who are usually non-filers too. Until their recent filing, the tax agency did not have their records on file. As the IRS can only send the stimulus amount based on the most recent tax returns, it may not have been able to do so thus far. So it is recommended to file the return even if it is not usually filed.

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