In 2022, certain people in the United States will receive a financial boost in the form of a stimulus check of up to $1,400 on top of their tax return, but they must meet specific conditions to qualify. To qualify for such a payment, American citizens must either be the parents of a child born in 2021 or have a new dependent.
This $1,400 stimulus check is very significant, and we'll go through all you need to know to figure out if you'll be able to claim it in 2022 and how to do so. All of these new economic measures are part of the new American Rescue Plan, which provides people and their dependent children with $1,400 payments, according to MARCA.
Which families are eligible to receive $1400 in 2022?
Although the majority of families have already received their full payment, those who had qualified children in 2021 can claim the Recovery Rebate Credit on their next tax return. Economic Impact Payments, sometimes known as stimulus checks, were distributed in 2021 as part of the Recovery Rebate Credit advance payments.
If you did not get the entire amount due by December 31, you could claim the remaining funds when you do your taxes in 2022. Because the 2021 Economic Impact Payments were computed using a person's 2020 or 2019 tax return, any qualified dependents who joined the family in 2021 will be excluded from the computation and payment.
Per The East County Gazette, if you did not get the total amount due by December 31, you can claim the cash in 2022 when you file your taxes. Any qualifying dependents who joined the family in 2021 will be omitted from the computation and payment since the 2021 Economic Impact Payments were computed using a person's 2020 or 2019 tax return.
Some of those states may continue with those initiatives into the following year, but they aren't standardized. Some were national stimulus checks, while others were specific to professions like teachers or first responders. Others were restricted to students or administered through the expansion of programs like SNAP.
Can Americans expect stimulus checks in 2022?
One of the most common Google searches in 2021 was for stimulus checks for COVID-19 relief, which was one of the most popular inquiries. So it's understandable that some are hoping for another in 2022.
Since early 2020, Congress and Presidents Donald Trump and Joe Biden have approved three direct-payment stimulus checks to assist Americans who are struggling financially due to the pandemic. Under the CARES Act, they were $1,200 in March 2020, $600 in December 2020, and $1,400 in March 2021 under the American Rescue Plan. There was also money set aside for dependents.
In addition, the American Rescue Plan includes payments to qualified American families in the form of monthly advance Child Tax Credit payments. In addition, the first $10,200 in unemployment benefits received by Americans in 2020 will be tax-free.
There are no indications that Washington, DC politicians are willing to compromise or are debating the possibility of a fourth direct payment stimulus check. While the public and some legislators have called for recurrent payments, there has been little movement, as per 11alive.
Related Article: Five Stimulus Checks To Apply in January 2022 as Democrats Face Perils in Extending Child Tax Credit
