COVID-19
Show
See if you qualified for a stimulus check (Economic Impact Payment) and when and how it was sent. Learn what to do if you were eligible for but did not receive a previous stimulus payment. Or find out about payments from the advance child tax credit and see if you qualify. COVID-19 Stimulus Checks for IndividualsThe IRS issued three Economic Impact Payments during the coronavirus pandemic for people who were eligible:
These payments were sent by direct deposit to a bank account or by mail as a paper check or a debit card. You can check eligibility requirements for stimulus payments on IRS.gov. Check On Your Stimulus PaymentCheck the Get My Payment page from the IRS to find out if you qualified and when you should have received your payment. What to Do If You Didn’t Receive Your Stimulus ChecksFollow the directions from the IRS on how to claim these payments if you were eligible for but did not receive them, or if the amount you received was incorrect. Advance Child Tax CreditBy claiming the Child Tax Credit (CTC), you can reduce the amount of money you owe on your federal taxes. The amount of credit you receive is based on your income and the number of qualifying children you are claiming. Because of the COVID-19 pandemic, the CTC was expanded under the American Rescue Plan of 2021. The IRS pre-paid half the total credit amount in monthly payments from July to December 2021. When you file your 2021 tax return, you can claim the other half of the total CTC. Learn more about the Advance Child Tax Credit. Last Updated: July 20, 2022 TopGuide to Filing your Taxes for the 2021 tax yearIn response to the financial impact of the Coronavirus pandemic, Congress expanded tax benefits which may increase the amount of money you receive through your tax refund when you file your return for the 2021 tax year. It’s not too late to file your tax returnAlthough the regular tax season is over, you can still file a late tax return until October 15, 2022. If you do not file you may miss out on a refund or any tax credits for which you may be eligible.While there’s no penalty for filing late if you do not owe taxes, you could face fees and penalties if you do owe for 2021. The information below can help you navigate this process and complete your return before the final deadline. Filing a Simple ReturnThere are two main reasons you may want to file a simple return in 2022:
To claim any recovery rebate or child tax credits that you are eligible for, you can file a simple return online by going to GetCTC.org . This online resource is both mobile friendly and available in Spanish. Filing a Full Tax ReturnDepending on your circumstances, you may want to consider filing a full tax return. There are a few reasons to consider this option:
To file a full tax return online go to MyFreeTaxes.com . Access your tax refund quickly and safelyIf you think you may receive a refund, here are some things to think about before you file your return:
You can learn more about choosing the right prepaid card here
Learn more about the FDIC’s #GetBanked campaign. Watch out for scamsScammers are taking advantage of the coronavirus pandemic by attempting to con people into giving up their money. During this time of uncertainty, being aware of possible scams is a good first step toward preventing them. Submit a complaint Having a problem with a financial product or service? We have answers to frequently asked questions and can help you connect with companies if you have a complaint. Submit a Complaint What is the full amount of the first economic impact payment?the first Economic Impact Payment was $1,200 ($2,400 if married filing jointly) plus $500 for each qualifying child you had in 2020; and. the second Economic Impact Payment was $600 ($1,200 if married filing jointly) plus $600 for each qualifying child you had in 2020.
When did the economic impact payment 3 come out?The IRS began issuing these payments on March 12, 2021 and continued through the end of the year.
When was the 3rd stimulus check?The government started sending the third stimulus checks on March 12, 2021. The IRS continues to send third stimulus checks as people submit their information to the IRS either by filing a 2020 tax return or using GetCTC.org. The deadline to use GetCTC.org is November 15, 2022.
What was the amount of the third stimulus check?Third round of stimulus checks: March 2021
The third payment provided eligible individual taxpayers for a check of up to $1,400, while couples filing jointly could receive a maximum of $2,800.
|