![]() ![]() The payment is actually a 2021 tax credit that is being sent to you in advance.Most people already received their payments, which were based on income reported on their 2019 or 2020 tax return.The stimulus payments were processed by the IRS.To get the additional payment, you must file the 2020 tax return by 90 days from the filing deadline or September 1, 2021, whichever is earlier. If the IRS sends your payment based on a 2019 return and then your 2020 return says you qualify for more (perhaps you had a baby), they will send an additional payment to make up for the difference.Otherwise they will use information from your 2019 tax return. The IRS will use income information from your 2020 tax return if they received that return before sending your money.This applies to heads of households who make less than $112,500, as well. Adults whose adjusted gross income is less than $75,000/year (or couples who file together whose adjusted gross income is less than $150,000) will get $1,400 for each adult, plus $1,400 for each dependent - no matter how old they are.Learn more about it on the IRS website.Payments were based on income reported on 2019 or 2020 tax returns. It called for sending a third round of stimulus checks (called Economic Impact Payments - EIP) to Americans. The American Rescue Plan authorized a $1,400 stimulus payment to eligible people. On March 11, 2021, the American Rescue Plan was signed into law. Third Round of Stimulus Money - from the American Rescue Plan The 2021 stimulus payment ![]() ![]() Learn where to get help filing tax forms and ask them if you can claim your payment(s). That's three years from the date the return is normally due. For these returns, stimulus payments may not be issued in accordance with the schedule above, even if the tax return was processed by April 15.If you believe you did not get all or part of your stimulus payments, you have three years to claim the money. Taxpayers who choose direct deposit on their federal income tax returns can expect to receive their economic stimulus payments between May 2 and May 16 provided their returns were received and processed by April 15, 2008.įor taxpayers who did not choose direct deposit on their tax return but whose returns were processed by April 15, the paper checks will be in the mail starting May 16, with the initial mailings completed by around July 11.Ī small percentage of tax returns will require additional time to process and to compute a stimulus payment amount. The IRS expects to make about 34 million payments within the first three weeks after the payment schedule begins May 2. On a jointly filed return, the first Social Security number listed will determine the mail-out time. Because the IRS will use the Social Security number to determine when checks are mailed, taxpayers may receive their checks at different times than their neighbors or other family members. Stimulus payments will be sent out in the order of the last two digits of the Social Security number used on the tax return. "The payments will be automatic for the vast majority of taxpayers." "To receive an economic stimulus payment, people just need to file their tax returns as they usually do," said IRS spokesperson Peggy Riley. The IRS also announced the availability of a new online calculator on to help people determine the amount of their stimulus payments.Įligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. The initial round of weekly payments will be completed by early July. PORTSMOUTH - The Internal Revenue Service announced earlier this week that it will begin sending more than 130 million economic stimulus payments starting May 2. ![]()
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