$1,390 Stimulus Payment For Eligible Americans: Check if You Meet the Eligibility Criteria!

$1,390 Stimulus Payment for Americans Who Are Eligible
If you missed out on the third round of Economic Impact Payment (EIP) during the pandemic, don’t worry. You still have a chance to get this money. The Internal Revenue Service (IRS) has announced that they are giving this money to about 1 million people who were not able to claim it in 2021.

You can get this money through the Recovery Rebate Credit (RRC), which is a tax credit. The purpose of this scheme is to ensure that every eligible American gets his full $1,400 stimulus payment — even if he missed it earlier. But remember, for this you have to file your 2021 tax return by April 15, 2025. If you or someone you know has missed this opportunity till now, then there is still time to get it.

What is Recovery Rebate Credit (RRC)?

The Recovery Rebate Credit is a tax credit given to people who didn’t receive the full third stimulus payment of 2021. If you or a family member didn’t receive the full amount — or only received half of it — now’s the time to claim it. All you have to do is claim the credit by filing your 2021 tax return.

The credit is “refundable,” meaning you can get a full refund even if you don’t pay any taxes.

Who’s eligible for this $1,400 stimulus payment?

You’re eligible for this amount if you meet the eligibility criteria below:

General eligibility:

• You must be a U.S. citizen or resident alien in 2021.
• You must not have been claimed as a dependent on someone else’s tax return.
• You must have a valid Social Security Number (SSN) or Adoption Taxpayer ID (ATIN) (for dependents).
• You have filed or are filing your 2021 tax return.

Income limits (AGI):

• Single filer: Full amount up to $75,000. Nothing above $80,000.
• Married filing jointly: Full amount up to $150,000, nothing above $160,000.
• Head of household: Full amount up to $112,500, nothing above $120,000.

Additional amount for dependents:

If you have dependents (such as children or elderly parents), they can also get $1,400 per person.

Example: A family with 2 parents and 2 children can get up to $5,600.

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How to claim $1,390 Stimulus Payment?

If you haven’t filed your 2021 tax return yet, follow these steps:

Step-by-Step Process:

1.Check your eligibility:

Visit the IRS’s official website to check eligibility.

2. Fill your 2021 tax return:

You can use the IRS Free File program (if your income is less than $73,000). Otherwise, you can fill it with tax software or paper forms.

3. Claim the Recovery Rebate Credit:

Fill out the RRC section on tax form 1040 to let the IRS know that you should get this amount.

4. Submit the form before April 15, 2025:

After this, your right will expire. So file the return on time.

Why did people miss this payment?

• Many people earn so little that it is not necessary to file taxes, so they did not fill the form.
• Some did not even know that they were eligible.
• Some had the wrong bank details or address, due to which the payment did not reach.
• They were previously dependents, but in 2021 they became eligible themselves.

Caution: Avoid fraud

• The IRS will never ask you for your information by phone, email or message.
• Use only the www.irs.gov website.
• Do not give your Social Security number or bank information to any unknown website or person.

Common mistakes people make

• Not filing 2021 tax return
• Filling the wrong year’s form
• Not adding dependents
• Giving wrong bank information

Tip: If you are confused, seek help from a professional tax advisor or IRS Volunteer Help (VITA) Center.

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Frequently Asked Questions: