It’s not too late to apply for a third stimulus check worth up to $1,400 per person.
According to CNN, eligible taxpayers who did not get the payment or who received more money than they expected can claim a tax credit on their 2021 federal tax return by April 18, 2021.
Last spring, the vast majority of the third stimulus payments were automatically deposited into taxpayers’ bank accounts or sent to them. The payments were approved by the American Rescue Plan in March 2021 and were developed to help those who were having economic hardship by the Covid-19 pandemic.
However, the payments for the previous year were calculated using the most current federal tax return on file at the time. In 2021, if a taxpayer’s income or family size changes, he or she may be eligible for additional money.
Others may have lost out completely on the stimulus payment. Those with incomes so low that they are exempt from filing taxes may have never received their payment since the IRS did not have their information.
How Much Do These Stimulus Checks Worth?
Up to $1,400 per person is available in the third round of stimulus checks. For example, a married couple with two children can earn a maximum of $5,600.
Families are eligible for up to $1,400 per dependent, regardless of age. Payments to dependents under the age of 17 were limited in previous rounds.
Low- and middle-income Americans and permanent residents of the United States are generally eligible for a full or partial third-round stimulus payment.
Individuals with an adjusted gross income of less than $75,000, heads of households (such as single parents) with an income of less than $112,500, and married couples with an income of less than $150,000 are all eligible for the full $1,400.
