There’s still time to claim a third stimulus payment worth up to $1,400 per person. Eligible taxpayers who didn’t receive the payment or may be due more money than they initially received are allowed to claim a tax credit on their 2021 federal tax return by the April 18 deadline.
Eligible taxpayers who didn’t receive the payment or may be due more money than they initially received are allowed to claim a tax credit on their 2021 federal tax return by the April 18 deadline. The vast majority of the third stimulus payments were automatically delivered to taxpayers’ bank accounts or via a check in the mail last spring. The payments were authorized by the American Rescue Plan in March 2021 and were meant to help people struggling financially because of the Covid-19 pandemic. But the payments were calculated last year based on the most recent federal tax return on file at the time. If a taxpayer’s income or family size changed in 2021, the individual may be eligible for more money. Other people may have missed out on the stimulus payment altogether. Those with incomes so low they don’t have to file taxes may have never received their payment because the Internal Revenue Service did not have their information. How much are the payments worth? The third round of stimulus payments is worth up to $1,400 per person. A married couple with two children, for example, can receive a maximum of $5,600.
