Fourth Stimulus Check Coming Soon
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It’s not a rumor! The US government is sending out the 4th round of stimulus checks to some families and could come in two parts, or whole, with a “surprise” check in late December or by early 2022.
According to a report by The US Sun, some Americans could be receiving a “surprise” check of $285 ahead of the holidays.
Maine: The Department of Administrative and Financial Services began issuing “Disaster Relief Payments” to over 500,000 eligible residents beginning in early November through December 31, 2021.
Missouri: Is offering a rebate program for seniors and those with disabilities. Homeowners can get up to $1100, and renters can receive a maximum of $750. Seniors must be sixty-five and up, and those with disabilities 18 and up. Income for single filers is limited to a maximum of $27,500 or $29,500 per household.
Pennsylvania: Offering a rebate program for seniors and those with disabilities for property tax and rent, for seniors 65 and older or widows 50 and up, or those with disabilities 18 and over. The maximum benefit is $650, but “supplemental rebates” could be as high as $975. Income for homeowners is limited to a maximum of $35,000 and $15,000 for renters.
New York: Offering payments out of “The Excluded Workers Fund,” but no word yet on how much payments will be.
You may not have seen this coming, but Newsweek reported that as part of The American Rescue Plan, a $1.9 trillion relief package passed in March, the package allocated an additional $1400 payment for eligible individuals and their dependent children.
Some families already received these stimulus checks in 2021, as they were advance payments of the Recovery Rebate Credit.
But for those who did not receive the full amount they were owed by December 31, which are families with eligible children in 2021, they can claim the Recovery Rebate Credit on their next tax return in 2022.
The Recovery Rebate Credit is part of the CARES Act, which provided an initial stimulus payment of $1200 per qualifying adult and $500 per qualifying dependent.
If you did not receive a stimulus check for what you are owed, you could use the Recovery Rebate Credit to reduce any tax you owe for 2021, or the amount can be included in your tax refund and directly deposited into your financial account, which can include a bank account, prepaid debit card or alternative financial product for your direct deposit, according to the Internal Revenue Service (IRS)
Qualifying eligible dependents must have been under 19 at the end of the year unless a student qualifies up to 24, or any age if permanently and totally disabled. The dependent is defined as a child, brother, sister, foster child, stepbrother, stepsister, half-brother or half-sister, or a descendent of any of them.
The parent of an eligible dependent must meet certain income requirements. Eligible individual taxpayers must have an adjusted gross income under $75,000 or an income of $150,000 if married and filing jointly.