Will it be possible to receive third stimulus check plus-up payments after 31 December 2021?
Plus-up payments mean people whose tax returns changed between 2019 and 2020 don't miss out on money, but there is a time limit.
While a fourth stimulus check is extremely unlikely to happen, the last dregs of the third check are still hanging around. These are taking the form of plus-up payments, bridging the gap for those whose situation has changed between submitting their 2019 and 2020 tax returns.
But there is a catch, applicants have until the end of the year to submit their 2020 tax returns and receive the money, or it will not be able to be claimed.
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What are plus-up payments?
Plus-up payments are additional payments for people who received the third stimulus check using their 2019 tax return. If they became eligible to receive more money due to changes in their 2020 tax return, then they are eligible to receive the difference as a tax deduction.
People who are eligible for the payment will be those whose income reduced in 2020 or added a dependent to their tax return.
When is the deadline to receive the payment?
Plus-up payments are sent separately from your 2020 tax refund and previous stimulus check payments. They are normally issued within 2 weeks from the time your 2020 tax return is processed. The IRS are sending plus-up payments to eligible taxpayers every week until the deadline of December 31, 2021.
Basically, you have to get your 2020 tax return processed as soon as possible.
It is possible to check the status of your plus-up payment with the Get My Payment tool.
How can it be received?
Stimulus checks in 2021: how will they affect 2022 tax returns?
It’s been 9 months since the third stimulus check: could a fourth one still happen in 2022?
The IRS needs your 2020 tax return in order to see if you are eligible to receive the plus-up payment.
#IRSTaxTip: Make sure to keep your tax records for three years from the date you filed a tax return. That includes #IRS letters, notices, prior year’s tax returns and more. https://t.co/0Ywx6M4FHK pic.twitter.com/fO70R1bSp0
— IRSnews (@IRSnews) December 15, 2021
If you need to file a federal tax return for 2020 and have income of $72,000 or less, you can file your tax return electronically for free with the IRS Free File Program. If you are not required to file a tax return, you may use the Non-filer Sign-up Tool. You do not have to have children or qualifying children to use this tool to receive your third Economic Impact Payment.