In 2022, selected American citizens will be eligible for a $1,400 extra stimulus payment. The downside is that they will have to wait until at least 2022 to get such a stimulus check.
A new element of the American Rescue Plan was revealed in March. The bill authorized the distribution of a $1,400 stimulus payment to an eligible low-income American.
When President Joe Biden signed the bill into law in March, millions of Americans got third-round stimulus checks worth up to $1,400 per qualified individual in the months that followed. Parents also received $1,400 stimulus checks for each qualifying child, with co-dependents 17 and under getting monthly payments of the child tax credit worth up to $3,600 depending on eligibility in July.
According to Penn Live, parents who are expecting or have been expecting children in 2021 are also eligible for further stimulus payments. The $1,400 stimulus checks handed to qualified parents with co-dependents this year are also intended for those expecting babies.
On the other hand, parents of newborns will have to wait. Here's all you need to know about getting the new stimulus checks. Parents of newborns who were not yet born when the stimulus checks were delivered will be required to notify the IRS of their new family members.
Who is eligible for another stimulus check?
Parents who give birth to a new kid in 2021 will receive an additional $1,400 as a result. It should come as no surprise that there is a limit on how much money you can make. A single filer's adjusted gross income cannot exceed $75,000 per year.
To get the entire payment, a couple's income must be less than $150,000. For salaries over certain limits, the $1,400 will be decreased. Per BGR, it also fades out entirely for single filers earning more than $80,000 and couples earning more than $160,000.
Remember that the $1,400 isn't the only money these new parents will receive. Don't forget about the child tax credit payments that are still due. Meanwhile, another set of individuals is waiting in line for the fourth stimulus check. Residents in California are also receiving what amounts to a fourth payment, which is supported by state funds.
Californians who earned less than $75,000 last year are generally eligible. And if they've spent most of the year in California. No one should be allowed to claim them as dependents, and they must have filed their 2020 taxes by October 15.
Read Also: Child Tax Credit: Latest Stimulus Payment Schedule and Next Deadline to Opt-Out
When to receive the new stimulus payment?
Another section of the law indicates that certain American citizens will be eligible for an additional $1,400 stimulus payment next year. However, this is only feasible if you file your taxes for the year 2021. This stimulus check will be made to Americans who have a child after March 20, 2021.
This extra stimulus check is being sent since the previous check was computed using 2020 tax returns. To get such a payment, however, the parents must designate their child as a dependent on their 2021 tax returns.
This stimulus payment, worth an additional $1,400, will be distributed based on certain income limits. To be eligible for this stimulus payment, single filers must earn less than $75,00 per year, and married couples must earn less than $150,000 per year.
Regardless of whether you are also a Child Tax Credit Program participant, this money will be sent to you. The fact that you are expecting a child this year is the determining factor. Parents who have a newborn kid in 2021 will almost certainly be eligible for a $1,400 stimulus check in 2022. When they file their federal taxes in 2022, they will get that payment, as per Digital Market News.
Related Article: How to Get $16,000 Surprise Stimulus Payment For Parents With Two or More Children Under The Age of 13?
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