The Internal Revenue Service (IRS) will send $1,400 stimulus checks to people who are qualified. The goal of these payments is to help low-income families and people who have been touched by the pandemic right away with their money. Here is an in-depth look at the requirements, how to apply, and important dates.
What Are $1400 Stimulus Checks?
People and families get stimulus checks, which are also called “economic impact payments,” to help them pay their bills when times are tough. The upcoming $1,400 aid checks are one-time payments that will be sent out on Labor Day.
Who Is Eligible?
To qualify for the $1400 stimulus check, you need to meet the following criteria:
Residency and Citizenship:
- Must be a resident of the United States.
- Must have permanent citizenship in the U.S.
- Must possess a valid Social Security Number.
Income Thresholds:
- Married couples filing jointly must have an income of less than $150,000.
- Single people must make less than $75,000 to qualify.
Special Eligibility:
- New parents of babies born in 2021 are eligible.
- Individuals who did not owe any taxes to the federal government.
Tax Filing Requirements:
- Taxes must be filed by May 17, 2024.
- Valid original documents need to be available for verification.
Also See:- New $4,000 Stimulus Checks: Eligibility Criteria and Essential Details
How to Receive the $1400 Stimulus Check
It’s easy to get the stimulus check, and you don’t need to fill out a different application. These are the steps:
Tax Returns:
- The IRS will use your tax return information to determine eligibility.
- Ensure you have filed your taxes by the May 17, 2024 deadline.
Bank Details:
- Provide correct bank account details to the IRS for direct deposit.
- Double-check your Social Security Number and other details to avoid any errors.
Payment Confirmation:
- Check your bank account after the given time for payment confirmation.
Missed the Tax Filing Deadline?
If you missed the May 17, 2024 deadline, you can still receive the $1400 stimulus check by following these steps:
File by April 15, 2025:
- File your 2021 tax return on or before April 15, 2025.
- Claim the 2021 Recovery Rebate Credit, which includes the $1400 payment.
Recovery Rebate Credit:
- Taxpayers have three years from the due date of the return to file a claim and recover money.
Free Tax Filing Help:
- Programs like GetYourRefund.org, Volunteer Income Tax Assistance, and AARP Foundation’s Tax-Aide offer free help to claim missing stimulus payments.
Important Deadlines and Additional Resources
Previous Stimulus Payments:
- If you missed claiming the first and second stimulus payments from 2020, you can file a 2020 tax return by May 17, 2024.
- For the third stimulus payment from 2021, file a 2021 tax return by April 15, 2025.
Amending Tax Returns:
- If you filed your tax return for 2020 or 2021 without claiming the Recovery Rebate Credit, you can amend your return by the respective deadlines.