The US government provided Economic Impact Payments to eligible individuals to help keep them out of poverty, with payments varying based on adjusted gross income.
(Credit: The star)
1400 Stimulus Payment: In response to the COVID-19 pandemic, the U.S. government issued stimulus checks to help prevent widespread poverty. Starting in March 2020, eligible individuals could receive Economic Impact Payments of up to $1,200 per adult and $500 per qualifying child under the age of 17 through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
If an individual’s adjusted gross income (AGI) exceeded $75,000 ($150,000 for married couples filing a combined return), the payments were lowered. These Economic Impact Payments provide up to $3,400 in direct financial aid for a household of four.
1400 Stimulus Payment Eligibility: Who is eligible to still claim the COVID-era payment?
After the crisis, in early March 2021, the American Rescue Plan Act was launched, offering economic impact payments of up to $1,400 for qualified people or $2,800 for married couples filing jointly. Additionally, each qualifying dependent, including adult dependents, would get $1,400.
Regarding the third payment, recipients do not have to make an extra effort to obtain it. In April 2024, the IRS started processing payments automatically.
To determine whether an error has occurred, you should get in touch with the appropriate authorities if you have still not received the third instalment that you were anticipating.
The IRS Get My Payment tool went live on March 15th. Use it to find out when you can anticipate your stimulus payment.
As laid out by the US Treasury on its website: “For this third round of Economic Impact Payments, the American Rescue Plan requires an additional “plus-up” payment, which is based on information (such as a recently filed 2020 tax return) that the IRS receives after making the initial payment to the eligible individual.”
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