10/12/2023 0 Comments Will there be a third stimulus checkTo see if your state is sending (or has sent) a payment this year, see States Sending Stimulus Checks. For the most part, these payments come from a budget surplus or federal COVID-relief funds. State Stimulus Checks in 2022Īs mentioned earlier, many states are sending payments to their residents in 2022 to help with high inflation and other economic woes. As a result, your third stimulus check may have been higher or lower depending on when you filed your 2020 tax return. The American Rescue Plan Act provided a 3rd round of federal stimulus payments along with unemployment benefits and housing assistance. ![]() If your 2020 return was filed and/or processed after the IRS sent you a third stimulus check, but before December 1, 2021, the IRS sent you a second "plus-up" payment for the difference between what your payment should have been if based on your 2020 return and the payment actually sent based on your 2019 return. Most eligible people already received their stimulus payments and wont be eligible to. If your 2020 return was already filed and processed when the IRS was ready to send your payment, then your stimulus check eligibility and amount was based on the information on your 2020 return. The IRS has issued all first, second and third Economic Impact Payments. Let’s break down what this means for you who is eligible for the. President Joe Biden’s American Rescue Plan pays individual taxpayers earning less than 80,000 a maximum of 1,400 and couples making under 160,000 up to 2,800. If your 2020 tax return wasn't filed and processed by the IRS by the time the tax agency started processing your third stimulus payment, then the IRS used information from your 2019 tax return. The IRS has already sent out more than 156 million third stimulus checks, worth approximately 372 billion. ![]() For third-round stimulus payments, eligibility and amounts were based on either your 2019 or 2020 return.
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