The fourth Stimulus Check Worth $1400 is Coming for All: Deposit Date and Eligibility: The Internal Revenue Service (IRS) has announced that millions of U.S. taxpayers can still receive a stimulus check worth up to $1400, depending on how they filed their 2021 tax returns.
The fourth Stimulus Check Worth $1400 is Coming for All
The IRS confirmed in December that it would distribute approximately $2.4 billion in these stimulus payments, automatically crediting taxpayers who qualify based on their previously filed returns.
Separately, the IRS estimates that 1.1 million Americans are missing out on their 2021 Income tax Refunds because they haven’t filed their taxes, totalling about $1 billion in unclaimed money. And if people miss it, the funds become the property of the U.S. Treasury.
According to the IRS, Mississippi taxpayers are owed about $8283, 600. Approximately 9,600 people who haven’t filed their 2021 taxes could get back $701 on average.
Highlights
- program name – 4th Stimulus Check
- Providing Authority – Internal Revenue Services (IRS)
- Country – The United States of America
- Amount – Up to $1400
- Mode of Payment – Direct Deposit Or Check
- Category – Government Aid
- Official Website – www.irs.gov
Who is Eligible for the IRS Stimulus Check?
According to the IRS, more than a million taxpayers didn’t claim the Recovery Rebate Credit in their 2021 tax return, and a report by USA Today, two key groups of taxpayers could be entitled to this stimulus payment:
1. Individuals who did not claim the Recovery Rebate Credit (RRC) on their 2021 tax return:
- Taxpayers who left the RRC section blank or entered $0 may still be eligible for the stimulus payment.
- The IRS has reviewed tax filings and is issuing payments to those who qualify.
2. Taxpayers who have not yet filed a2021 tax return:
- Individuals who did not submit their 2021 tax return may still be eligible for the stimulus check.
- They must file their returns by April 15, 2025, to claim both the stimulus payments and any other potential refunds.
3. Disabled Individuals
- People who are either blind or completely disabled are directly eligible for this 4th Stimulus Check. They must either give proof or go through a medical procedure to prove their disability
4. Eligible for previous EIPs
- Applicant must be for at least one of the three rounds of previous economic Impact Payments that were provided during the time of the pandemic.
- If these were unclaimed or claimed less than they were eligible to they qualify for this special measure.
5. Nationality
The individual must be a US citizen or resident to be eligible to claim the 4th payment by the government. The individual must have a valid Social Security Number (SSN).
The refundable credit was for people who did not get one or more Economic Impact Payments during the COVID-19 pandemic.
6. Income Requirements
Income is also a major factor in determine the eligibility of the individuals applying for the stimulus funds:
- Single Filers: Adjusted Gross Income (AGI) should be less than $75,000
- Married Filing Jointly: AGI should be less than #150,000
- Head of the Family: AGI should be less than $112,500.
4th Stimulus Check dates
- Approval Date – At the beginning of 2025
- First Payment – In 2-4 weeks after the approval date
- Paper Check – In 4-8 weeks after the approval date
How to check if you Claimed the Recovery Rebate Credit
Taxpayers who filed a 2021 tax return can verify whether they claimed the Recovery Rebate by April 15 by reviewing their tax documents.
If the credit was left blank or marked as $0, they may be eligible for the IRS stimulus check. For Those who are uncertain, checking IRS transcripts or tax filing records can provide clarity on whether the credit was included.
Determining the Payment Amount
The Maximum Payment amount is $1400 per individual. However, this amount can be different for different people depending on the factors given Below:
- An Individual taxpayer who did not receive any of the three previous stimulus payments may be qualified for the Full $1400.
- A family of four (Two parents and two children) that missed the opportunity of claiming the benefit provided in the three previous stimuli may be qualified to get up to $5600 ($1400 per individual in the family).
Conclusion
In this article, we discussed The fourth Stimulus Check Worth $1400 is Coming for All: Deposit Date and Eligibility, The IRS estimates that 1.1 million Americans are missing out on their 2021 Income tax Refunds because they haven’t filed their taxes, totalling about $1 billion in unclaimed money.