HomeNewsStimulus Checks: Here’s the Deadline for $1,400 Payments

Stimulus Checks: Here’s the Deadline for $1,400 Payments

by Shelby Scott
(Photo by Jeff Fusco/Getty Images)

Throughout the heights of the coronavirus pandemic, Americans have been receiving various stimulus checks. The financial distributions came as a way to supplement Americans during a time where unemployment reached record heights. It additionally helped to serve as an added boost in the economy.

Now, we’re nearing the end of 2021. As such, the IRS plans to wrap on the latest rounds of stimulus payments as of December 31st. However, in the meantime, we have information regarding the latest round of PLUS-up checks and which Outsiders are eligible.

According to The U.S. Sun, the round of checks, worth up to $1,400, go to those adults whose income dipped in 2020. The same goes for dependents of those individuals. Further, the outlet states taxpayers whose income was lower in 2020 than in 2019 may be eligible for the stimulus checks.

Since the offset of the government payments, the IRS has spent months spent navigating delays in disbursement. Now, the upcoming round of stimulus checks marks the ninth set since the initial dispersal in March.

Additionally, we have another important to note for readers as we head into the holidays. From the start, the stimulus checks are and have been sent separately from 2020’s tax refunds. Right now, the news outlet reports stimulus payments number around $388 billion nationally. Stimulus checks continue to see dispersal via direct deposit or physical check.

Parents May Owe IRS Funds Following November Stimulus

For now, Americans wait to see whether or not they’re eligible for the approaching $1,400 stimulus payments. In the meantime, others wonder whether they owe the IRS money.

“Free money” has been a major concern for Americans throughout the pandemic. Many have commonly termed the funds as government “handouts.” Now, after several months of child tax credit distributions, we’ve learned that many Americans might get stuck paying the IRS back for their November disbursements.

Ultimately, the final decision comes down to the amount individuals made in 2021 versus 2020 and 2019. Yahoo Finance states those who make under $112,500 as head of household or $150,000 under “married filing jointly” qualify for full payments.

Fortunately, however, the national revenue agency is not requiring cash payments from those who do owe money. Instead, anyone who received overpayments will either see an increase in tax payments as of next April or a reduction on the approaching tax refunds.

Regardless, the situation remains frustrating for many Americans. While the stimulus checks and additional payments were intended to help families in a time of financial need, numerous individuals saw major delays regarding their due payments. The delays include both the regular stimulus checks and the monthly child tax credit payments.

Hopefully, the upcoming payments see little delay or “glitches” as the IRS has previously cited, ahead of the upcoming holidays.