AMERICANS may receive a "booster shot" of extra cash ON TOP of their third stimulus check payments – but it's dependent on your tax filings.
A third round of payments worth up to $1,400 are being sent out across the country – but now some 730,000 bonus checks worth $1.3 billion, have gone out during the last seven days.
The extra payments are on top of "plus-up" payments, which are sent to some households who didn't receive the full stimulus checks.
The extra money is being seen as a "booster shot" of stimulus cash, as part of President Biden's $1.9 trillion Covid recovery package.
Plus Up payments go to people who received cash based on 2019 tax returns – but who are now due a new or larger amount based on their 2020 filing.
These cash booster top-ups are designed to provide "supplemental" support for Americans whose who have are owed on their 2020 tax filing.
For example, this could include those whose income fell between filing their 2019 and 2020 tax returns.
It also applies to households who may have a new child listed as a dependent for 2020.
Who’s eligible for the latest stimulus check?
THERE is certain criteria that must be met in order to claim your third stimulus check.
You could be entitled to a payment if the following is true:
- You are not a dependent of another taxpayer
- You have a Social Security number valid for employment
Your adjusted gross income (AGI) must also not exceed:
- $160,000 if married and filing a joint return
- $120,000 if filing as head of household or
- $80,000 for single applicants
Whether you’ll get a plus-up payment depends largely on how much you received in your third stimulus payment — if you got one at all.
Back in March, the IRS would have determined your eligibility for a payment based on the most recent data, from your 2019 return.
But if your income dropped last year because of the pandemic and you've recently filed your 2020 taxes, you may now qualify for a bigger stimulus check.
If this is the case, the IRS will send you a plus-up check to make up the difference.
Individual taxpayers whose returns show adjusted gross income (total income minus some deductions) of up to $75,000 qualify for the full $1,400 stimulus check.
The same goes for couples who file jointly and have AGI of as much as $150,000.
Plus, you may get some extra cash if you are in a couple who filed separately last year – but you've since tied the knot and now file jointly.
Earlier this month, the IRS advised Americans missing their plus-up payments to file for the cash by submitting their 2020 tax return.
Last week, it also issued two million more stimulus checks, of which 700,000 were plus-up payments.
The IRS is currently sending stimulus checks on a weekly basis.
You could track your stimulus check by using the Get My Payment tracker which the IRS updates every day.
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