Gulte Movie News And Politics
The Internal Revenue Service (IRS) said around 1 million taxpayers will get up to $1400 in a rebate in the coming weeks.
The automatic payments will be sent out to taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns. IRS said it found many eligible taxpayers who filed a return but did not claim the available credit.
Taxpayers don’t need to do anything, the payments will automatically be directly deposited or sent by paper check. They will be sent in December and the eligible people should receive them by late January. IRS taxpayers will be notified in a separate letter.
The total amount that will be sent out will be around $2.4 billion. The payment will be sent to the taxpayer’s bank account listed on their 2023 tax return or address of record.
The stimulus check, part of the American Rescue Plan Act of 2021, was the final payment issued to provide financial relief during the COVID-19 pandemic.
Who qualifies for this payment?
Single filers: You qualify for the full $1400 if your AGI in 2021 was $75,000 or less. The credit begins to decrease for incomes over $75,000 and is fully phased out at $80,000.
Married filing jointly: You qualify for the full $2,800 (for two people) if your combined AGI in 2021 was $150,000 or less. The credit begins to decrease for combined incomes over $150,000 and is fully phased out at $160,000.
Dependents: In 2021, families can receive $1,400 for each dependent, regardless of age, but the amount is subject to the same income phaseout limits as the primary filer.
