Despite the new COVID-19 variant, lawmakers are unlikely to approve a fourth round of stimulus checks. Even so, some people could still get a $1400 coronavirus stimulus check because of the American Rescue Plan Act, which approved the third round of stimulus checks. However, this payment will be available next year, and very few people will qualify for it.
The American Rescue Plan Act, which was approved in March of this year, authorized a $1400 coronavirus stimulus check per dependent. The IRS has already sent almost all the payments to the eligible recipients. However, some households may still get a $1400 coronavirus stimulus check, such as those who had a baby or added a new dependent in 2021.
For determining the eligibility of the third stimulus checks, the IRS used the past year tax returns. This means, if you had a baby in 2021, or added a new dependent this year, then this information wouldn’t be available on your earlier tax return.
So, if you had a baby or added a new dependent in 2021, then you need to claim the stimulus money for them in 2022. The dependent, however, should be below 19 years of age unless they are a student, or of any age if he or she is permanently disabled. Another example would be, if you had twin babies in 2021, you could get $2,800 in stimulus money when you file your tax return next year.
Since the stimulus payments were an advance on a tax credit, you would be able to claim that credit after filing your 1040 form with the IRS for 2021. The IRS is expected to start accepting 2021 tax returns in the last week of January 2022. So, to get your $1,400 stimulus check sooner, it is recommended that you file your 2021 tax return as early as possible.
How To Claim It
Along with the requirement of adding a new dependent in 2021, you must also meet other requirements of the American Rescue Plan Act to get the payment. For instance, the full $1,400 stimulus payment would be available to individuals with income less than $75,000 (married joint filers with an income under $150,000).
Payments phase out if your income exceeds the $75,000 threshold income. Moreover, those with income more than $80,000 (more than $160,000 for married joint filers) are not eligible for any money.
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If you meet all the requirements, then the stimulus money will arrive as part of your 2021 refund. Even if you don’t normally file a tax return, you must file a 2021 tax return to claim your stimulus money.
Separately, those who didn’t get the full stimulus payment they were eligible for, will also be to claim the remaining payment next year. Such people need to file a Recovery Rebate Credit at the time of filing their 2021 tax return.