Still missing a $ 1,200 or $ 600 incentive check? How to claim the money

As new $ 1,400 stimulus checks are sent to millions of Americans, some may still wonder why they haven’t received money from the first two rounds of direct payments.

The U.S. government has sent out three rounds of stimulus checks – up to $ 1,200, $ 600, and $ 1,400 – over the past year in response to the coronavirus pandemic.

The first stimulus payments, for as much as $ 1,200 per person, were authorized by Congress last spring. Meanwhile, payments of $ 600 and $ 1,400 were signed more recently, in December and March respectively.

Direct payments are intended for individuals and families below certain income thresholds. Typically, individuals with an adjusted gross income of up to $ 75,000 for singles, $ 112,500 for heads of households, and $ 150,000 for married couples filing jointly are eligible for full payment.

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Checks are being phased out for income above these levels. These conditions vary depending on the stimulus check.

If you didn’t receive money from previous checks – or if you received less than you owed – you can still try to claim the money from the US government.

This tax season, a recovery refund credit has been added to returns so people can deposit unpaid stimulus check funds.

But you have to file a 2020 federal income tax return to get this money. This is true even if you are not required to file a return, according to the IRS.

If you received money from the first or second stimulus check, you also need to know exactly how much was paid.

A payback refund credit spreadsheet can help you determine if and for how much you qualify for more money. These instructions are available with Forms 1040 and 1040-SR.

If you are filing electronically, the tax software you are using should help you calculate unclaimed stimulus check funds.

You can file your federal income tax return for free using the IRS Free File program, provided your income is $ 72,000 or less.

In order to get a stimulus check or tax refund faster, the IRS recommends filing electronically and providing your bank account and routing numbers.

This tax season, the government is also issuing a third installment of third stimulus checks up to a maximum of $ 1,400 per person, plus $ 1,400 per eligible dependent.

Last week, the IRS and other agencies said about 127 million checks had been sent to date, for a total of about $ 325 billion.

These $ 1,400 payments are typically based on 2019 or 2020 tax returns, whichever was most recently filed and processed by the IRS. Those who used the IRS ‘non-filers tool last year should also automatically receive their payments.

There are also benefits to filing a 2020 return in order to receive the $ 1,400 payment, according to the IRS.

If your income dropped from 2019 to 2020, you may be eligible for a larger payment. The IRS said it could potentially send follow-up payments to these people after their 2020 tax returns are processed.

Filing a 2020 tax return also allows you to update your direct deposit information.

This tax season, non-filers are also required to file a tax return in order to get their payment, provided they have not already submitted their information to the government.

Submitting a tax return will allow the IRS to assess other benefits you may be eligible for, such as the enhanced child tax credit, the earned income tax credit, or other benefits. .