Complete Details on the $1,400 Stimulus Checks

Introduction

The U.S. government issued 'Economic Impact Payments' in three phases to provide financial assistance during the COVID-19 pandemic. These are commonly known as 'Stimulus Checks.' The third and final check was issued in March 2021 under the 'American Rescue Plan Act,' granting eligible individuals up to $1,400. If someone has not received this payment, they can still claim it through the 'Recovery Rebate Credit.'

Eligibility Criteria

The IRS set the following eligibility criteria for stimulus checks:

1. Individual Filers

If an individual's Adjusted Gross Income (AGI) was $75,000 or less, they were eligible for the full $1,400.
The amount gradually decreased for incomes above $75,000 and phased out entirely at $80,000.

2. Joint Filers (Married Filing Jointly)

If a married couple’s combined AGI was $150,000 or less, they were eligible for a total of $2,800.
The amount gradually decreased for incomes above $150,000 and phased out entirely at $160,000.

3. Head of Household

If an individual filing as Head of Household had an AGI of $112,500 or less, they were eligible for the full $1,400.
The amount gradually decreased for incomes above $112,500 and phased out entirely at $120,000.

4. Dependents

Each eligible dependent (whether a child or an adult) received an additional $1,400, provided the primary filer’s income met the above thresholds.

If You Haven’t Received This Payment

If someone did not receive the payment in 2021, they can still claim it through the Recovery Rebate Credit by:

Filing their 2021 tax return, if they have not already done so.
Checking their payment status using the IRS ‘Get My Payment’ tool: https://www.irs.gov/coronavirus/get-my-payment

Deadline to Claim

To claim the Recovery Rebate Credit, the 2021 tax return must be filed by April 15, 2025.

Frequently Asked Questions (FAQs)

1. What if I did not file my 2021 tax return?

If you did not file a tax return in 2021, the IRS would not have automatically issued your payment. You can still file your return before April 15, 2025, to claim the Recovery Rebate Credit.

2. Are non-residents eligible for this payment?

No, these payments were only for U.S. citizens and resident aliens who met the eligibility requirements.

3. Can I receive this payment directly into my bank account?

Yes, if the IRS has your direct deposit information, the payment would be deposited directly into your bank account. Otherwise, you might receive a paper check or debit card.