It’s not too late if you qualify for the third stimulus check but never got it. The stimulus payment, also known as an EIP, was worth $1,400 for single taxpayers earning up to $75,000 and $2,800 for married couples filing joint tax returns and earning up to $150,000. Each qualified dependent would get an additional $1,400.
If you earn less than $80,000 for singles and less than $160,000 for married persons filing a joint tax return, you may be eligible for a partial payment.
You still have the chance to receive an unclaimed stimulus check!
If you didn’t get the payments, which began in March 2021, you can claim the Recovery Rebate Credit on your 2021 tax return to receive them now. You can also apply for a credit if you only received a partial payment but believe you are entitled to more.
Because the stimulus payments were based on information the IRS already had about you, it’s conceivable that you’re qualified but the IRS was unaware of it. You may now qualify if you earned less in 2021 than you declared on previous tax returns.
If you had a new baby who hadn’t yet been reported to the IRS, the same thing would happen. Even if you don’t usually have to file a tax return, the IRS says that submitting one for 2021 is the only way to assure that you receive your stimulus check, as per NJ.com.
Here’s another piece of good news!
There is some good news to share. According to Unica News, Senator Mitt Romney is pushing to revive monthly stimulus payments or Child Tax Credits. Sen. Romney’s idea will be included in the 2021 stimulus package if it is enacted. It’s known as the Family Security Act.
Parents or families would receive monthly payments of $350 for children under the age of five and $250 for children aged six to seventeen under the proposed Family Security Act. In addition, the proposed Family Security Act will help pregnant parents financially. In this light, Senator Romney’s plan seeks to provide them a tax credit or monthly payments for four months prior to giving birth.