People who hadn’t yet filed their 2020 tax returns in March 2021 received a round of stimulus money. Pandemic costs drained many Americans’ bank accounts in 2019 and 2020, especially those living in the United States. Some people may have received less money than they were entitled to because of outdated tax returns.
The Plus-Up Payment
Many Americans are eligible for a Plus-Up Payment, which the Internal Revenue Service prioritizes, according to MARCA. Due to the return of these funds, more aid will be provided to Americans before the end of 2021. To receive a $1,400 bonus stimulus check before the New Year in the US, only those who have registered in advance will be eligible.
Taxpayers who earn less in 2020 than they did in 2019 are eligible for “plus-up” payments. A similar predicament awaits anyone who claimed a senior or disabled relative as a dependent on their 2020 tax return. Due to the December 31 check-expiration date, there are only two weeks left to enroll. Tax returns for 2020 can be used to accomplish this, according to The Sun.
Americans Have Three Days Left To File Tax Return
The IRS typically processes plus-up payments within two weeks of receiving a tax return for 2020. Online payment tracking from the IRS is available for those who are eligible but have not yet received their stimulus payment. Plus-up payments can be received in two ways, according to Forbes: Directly from the IRS or as a paper check mailed to your address of record.
According to the IRS, all that is required of eligible recipients to receive a plus-up payment is for them to file their 2020 tax return, and the IRS will take care of everything else. If you believe you are eligible for a plus-up payment, you have until December 31, three days from now, to file your tax return with the federal government.
Read Related Article: Child Tax Credit Missed Payment And Catch-Up Payments, Find Out How To Get Them