The IRS is urging Americans to apply for the $1,400 plus up stimulus payment as the Federal Reserve program deadline approaches.
Some Americans might still get that $1,400 if they’re deemed eligible for a plus up check.
The plus up payments are part of the American Rescue Act.
In order to be eligible, you need to have earned less in 2020 than you did in 2019.
Related: Is there going to be a fourth stimulus check in 2022?
This could be because you changed jobs and make less money, or you gained a dependent.
In order to get it you need to file a 2020 tax return.
The deadline for applying by filing the tax return for 2020 is Dec. 31. The IRS will not issue plus up payments beyond then.
You can check your stimulus check status using the IRS Get My Payment tool.
Related: Stimulus payments worth $6,300 to go out next month, do you qualify?
Additional stimulus checks for those who have already received them don’t appear to be likely.
Other ways Americans may benefit financially
As the chance of getting more federal help shrinks, states have taken on the burden of making sure some of the most vulnerable residents are okay.
A bond building stimulus spree was also created by the Federal Reserve as a response to inflation.
Directors of the Reserve reduced bond buying from $120 billion every month to $105 billion, and then $90 billion.
They are cutting back $30 billion per month so the program winds down by March of next year.
Related: How will inflation impact Americans lives? One area is with employment
The goal of the program is to decrease stimulus out of fear of inflation sticking to the high rate it’s at.
Another way Americans may benefit is if President Joe Biden manages to get the Build Back Better legislation to pass next year.
It did not pass this year, effectively ending the expanded child tax credits.
Officials are still hopeful they could get it to pass next year and make up for the missed payment in Feb.
Related: Americans might qualify for two stimulus checks in February worth thousands, but only if they pass legislation
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