The new batch of stimulus checks valued at $ 1,400 includes plus-up and up-front payments
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Americans were issued a new batch of $ 1,400 worth of stimulus checks, bringing the total number of payments sent to approximately $ 165 million, or $ 388 billion.
This is the ninth series of payments since Congress approved the $ 1,400 stimulus reviews in March.
Checks are valid for up to $ 1,400 per adult based on income thresholds and other requirements, and $ 1,400 per dependent.
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The new batch included more than 960,000 payments, which is more than $ 1.8 billion. About 500,000 of these payments were made by direct deposit, the rest by check.
Payments comprised approximately 460,000 plus-up payments, valued at more than $ 800 million, to individuals who became payable after the IRS processed their 2020 tax returns.
It also included more than 500,000 checks, which is more than $ 1 billion, for individuals who had not previously been registered with the IRS and who had recently filed tax returns.
What if you still miss a payment?
If you haven’t received your $ 1,400 Stimulus Check or the two previous checks for $ 1,200 or $ 600, you can still claim the money by filing a federal tax return.
This year the registration period was extended to Monday, May 17th. However, anyone who opts for an extension until October 15 can still claim the money, the IRS has confirmed. (But remember, you cannot defer paying debts without potential fees or interest.)
If you haven’t filed a tax return in the past two years, this can help the IRS process your stimulus review as long as you are entitled to do so.
Your 2020 tax return will also state whether your income has decreased since your last filing in 2019, or whether you added a dependent tax return which may entitle you to additional funding.
The IRS continues to write checks every week, including “surcharge” payments to those whose previous checks were inadequate.
A recovery discount credit section has also been added to this year’s return – line 30 of Forms 1040 or 1040-SR and a worksheet – to help people claim missing money from the first $ 1,200 or second $ 600 federal incentive exams.
People who don’t normally file tax returns, including the homeless and rural poor, are encouraged to do so this year to receive their stimulus checks.
By filing a tax return, the IRS can also assess whether you may be eligible for additional funds through earned income or child tax credits.
Filers below certain income thresholds may be eligible for free tax preparation services provided through the IRS.