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Tuesday, February 7, 2023

Stimulus Checks: Got A Letter From IRS? $1400 Could Be Yours

Scamsters are targeting easy prey with stimulus checks. One really needs to be careful when one receives a call or a mail saying that one has qualified for the stimulus checks and all one needs to do to receive it is to click on the link sent or send one’s security details and bank account number. One should remember IRS will never ask for any money to be wired. They will just call or mail a letter to say USD 1400 is owed to you. 

The Internal Revenue Service has initiated the process of reaching out to over 9 M American Citizens, through the mail, who are yet to file their Income Tax Returns for 2021. The IRS is reaching out to them for another reason too. That is to inform them that they may, possibly be, entitled to receive stimulus checks which could be between USD 1400 and USD 2800 depending on their tax filing status. 

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USD 1.9 T American Rescue plan was initiated by the Federal Govt. with the intention to bail out its citizens whose normal lives were turned upside down since the onset of the Covid Pandemic. Citizens who are yet to claim their third installment of the stimulus check can do so by filing their tax returns for 2021. The stimulus check payment would also be extended to citizens who did not file their tax returns within the stipulated period in April.  The American Rescue Plan was signed into law by Joe Biden the president. This plan covers a wide ambit of refunds.

The stimulus check was sent directly to American Citizens, during the initial days of the pandemic, during President Donald Trump’s administration, when State Govs. began imposing complete clampdowns on residents and businesses, to restrict the growth of the virus.

Stimulus Checks Can Be Claimed By People With No Income Last Year

Citizens of America who have earned little or have earned nothing in 2021 will also be entitled to claim the stimulus payments.

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The Income Caps are specified and claims will be sent accordingly.

Individuals with a gross income not exceeding USD 75000, after adjustments shall be entitled to receive USD 1400. Married couples filing jointly and their gross income does not exceed USD 150000 can expect to receive an amount not exceeding USD 2800. Those who have filed their returns as head of household with earned income of USD 112500 were not entitled to the stimulus payments.

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