Stimulus, tax return update: Last chance to claim $1,400 stimulus money
Time is running out to claim last year’s economic impact payment worth up to $1,400 per person.
The money was part of the US rescue package approved in March 2021 and was the third in a series of stimulus payments during the COVID-19 pandemic. Most eligible people have received their money, but those who haven’t — or those who qualify for additional funds — have until today (April 18) to file their federal taxes.
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Who is eligible?
People whose adjusted gross income, or AGI, was $75,000 or less for single filers or $160,000 or less for joint filers, were eligible for the $1,400 payments. According to CNBC, you can confirm the amount of the third payment and whether it was sent to you by logging into your IRS online account or the Get My Payment app. You can also view the Notice 1444-C letter sent to you by the IRS detailing how much you were paid and what you were eligible for.
Another important note: Parents of a child born in 2021 – or parents or guardians who added a new eligible child, such as through adoption – did not receive an Economic Impact Payment for that child. They can now be eligible to receive up to $1,400 per child by claiming the recovery rebate credit. You can see more here.
How to claim your money
Those eligible for more money should complete the Recovery Rebate Tax Credit Worksheet and submit it as part of your 2021 tax return. Once you have used this worksheet to calculate the amount owed to you, you can claim it on line 30 of Form 1040 or Form 1040-SR of your 2021 tax return.
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