Americans may be eligible for an additional payment of up to $1,400 on top of their tax refunds in 2022, according to MARCA. They will have to meet specific requirements to do so. Citizens who are either the parents of a child born in 2021 or have a new dependent are eligible for the payment.
$1,400 In 2022
Taxpayers can receive an additional $1,400 in 2022 if they have a child after the baby is born. Anyone earning up to $75,000 per year as a single parent or couples earning up to $150,000 per year is eligible for the check. Individuals and their dependent children who qualify for the American Rescue Plan, a $1.9 trillion relief package passed in March, will receive $1,400 in payments. Recovery Rebate Credit can be claimed on a tax return by those who had children in 2021 who were eligible for the credit at that time.
According to Newsweek, in 2021, the Recovery Rebate Credit was paid in advance by the Economic Impact Payments, also known as stimulus checks. As of December 31, those who haven’t received all of the money they’re entitled to will be able to claim the rest when they file their taxes in 2022.
Until the IRS begins accepting tax returns in late January of 2022, eligible recipients should file their 2021 return as soon as possible to get the $1,400 they’re owed. Single or married joint filers with an annual income of more than $80,000 or more than $160,000 are ineligible for these payments.
Despite receiving a federal budget to administer these funds, each State’s Administration will be responsible for deciding how these funds are spent and which benefits are included in this plan. Dependents must be younger than 19, unless they are students or are permanently disabled, in order to qualify. On top of these other requirements, the dependent must be either a sibling or a relative of any of the above.
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