Some families will be able to receive a payment worth $1,400 in 2022, but you need to check to see if you’re eligible.
Those who did not file taxes for 2021 could claim a plus-up stimulus payment as well as earned income credit.
If you haven’t filed taxes recently, you will be able to claim the $1,400 if you file next year.
Taxpayers that had a child in 2021 may also claim that payment.
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The payment is issued however the filer chose to receive their refund.
Another reason you may want to file is to get the earned income tax credit for low income working families.
The credit is a fixed percentage of income that could reach a maximum of $1,502.
The credit is paid out as one lump sum.
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Plus up payments
Those with incomes that were lower in 2020 than 2019 could claim a plus up payment. So can those who claimed an elderly or disabled person in 2020.
The stimulus checks were first issued in 2020 and based on 2019’s tax return information.
In 2021 when those stimulus checks were issued, many people had not yet filed their 2020 taxes. This had the IRS relying again on 2019 returns for many Americans.
Due to the pandemic, many people had a much lower income in 2020. This made them eligible for the checks, but due to 2019 being their most recent return, they weren’t sent one.
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The plus up payments are designed specifically to offset what people missed out on due to their check amount being based on older taxes.
If you filed your 2020 taxes, the IRS will see this and issue you a payment.
You need to be sure your taxes are filed by Dec. 31 to claim the plus up.
The IRS says these payments are processed within two weeks of filing your tax return.
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