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Stimulus check: How does the economic payment impact work?

The IRS has issued three economic impact payments since the start of the pandemic, better known as stimulus checks.

Stimulus check for economic recovery

Some people were missed when it was time to be paid. But, the IRS has shared information on how to get the third stimulus payment if you’re entitled to it.

The stimulus checks have all already been issued to millions of qualifying Americans.

If you were missed, you can claim in on your 2021 tax return as the recovery rebate credit.

You may claim the full amount worth $1,400, or the remaining amount you did not receive.

Some stimulus checks may still be being processed, including plus up payments which had a deadline of Dec. 31, 2021.

Those payments were to make up the difference between what people received and what they were owed.

This may have happened because the IRS used old tax information to issue payments.

DiSanto Propane (Billboard)

2022 stimulus checks with the IRS

By law, the IRS has stopped issuing stimulus payments the way they did last year.

175 million stimulus checks were issued through the end of 2021 totaling $400 billion dollars.

Now, you must claim the payments as a credit on your tax return.

Parents with newborns should claim their child, which would give them an additional $1,400.

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