Massive Stimulus Relief: Check Eligibility For $2.4 Billion Worth Of IRS Payments
The Internal Revenue Service (IRS) has sent out $2.4 billion of economic impact payments to Americans who are eligible. These payments are part of the $1.9 trillion American Rescue Plan Act, which was signed into law by President Joe Biden in March of 2021.
Who is eligible for the payments?
To be eligible for an IRS stimulus payment, you must meet the following criteria:
How much will I get?
The amount of your payment depends on your filing status and income. You can get up to $1,400 if you meet all three criteria listed above. If you are married filing jointly, you can get up to $2,800. And if you have children, you can get an additional $1,400 per child.
How do I get my payment?
Most people will receive this payment automatically by direct deposit. If you do not have a direct deposit account set up with the IRS, you will receive a paper check in the mail.
When will I get my payment?
The IRS began sending out payments on March 17, 2021. Most people will receive their payment within three weeks of the date it was issued. However, some people may experience delays due to factors such as the volume of payments being processed or a change in their banking information.
What if I am not eligible for a stimulus payment?
If you are not eligible for a stimulus payment, you may be able to claim the Recovery Rebate Credit on your 2021 tax return. To claim this credit, you must meet the following requirements:
Conclusion
The IRS has sent out $2.4 billion of economic impact payments to Americans who are eligible. These payments are part of the $1.9 trillion American Rescue Plan Act, which was signed into law by President Joe Biden in March of 2021.
To be eligible for an IRS stimulus payment, you must meet the following criteria:
The amount of your payment depends on your filing status and income. You can get up to $1,400 if you meet all three criteria listed above. If you are married filing jointly, you can get up to $2,800. And if you have children, you can get an additional $1,400 per child.
Most people will receive this payment automatically by direct deposit. If you do not have a direct deposit account set up with the IRS, you will receive a paper check in the mail.
The IRS began sending out payments on March 17, 2021. Most people will receive their payment within three weeks of the date it was issued. However, some people may experience delays due to factors such as the volume of payments being processed or a change in their banking information.
If you are not eligible for a stimulus payment, you may be able to claim the Recovery Rebate Credit on your 2021 tax return.
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