One last round of stimulus checks await millions of Americans before the end of 2021. A batch was issued Nov. 15, but another one will be sent out Dec. 15.
This year's six stimulus checks, which began in July, were a new approach to the health-care crisis. The funds were part of a $1.9 trillion stimulus package passed by Congress in March. That bill increased the standard amount of the Child Tax Credit, among other things.
Families will receive a tax credit when they file their federal tax forms, according to BGR.
A bigger tax credit for eligible households when they filed their taxes in 2022 would have sufficed if this had been a typical year. The tax credit is arranged in such a way that Americans receive half of it in cash up front. It was also spaced out over several months.
The first thing you should know if you have received a deposit into your IRS bank account is that it is not a fourth stimulus payment from the federal government. In fact, it's a "plus-up" payment. It's money owed to you from the third stimulus check, not a fourth stimulus check.
The stimulus payment was tied to a taxpayer's adjusted gross income on their tax returns, according to the IRS. As a result, an additional payment is nothing more than money due to someone who did not receive the exact amount in the previous stimulus payment.
The IRS Get My Payment tracking tool has been useful in determining the status of stimulus checks and deposits, but it does not provide data on stimulus plus-up payments.
"Do not call the IRS. Our telephone assistants have no more information than what is accessible on IRS.gov," the IRS website advises.
Meanwhile, California residents can receive up to $1,100 in stimulus funds. Direct deposits were made first, followed by paper checks, at the end of October. The latter method began on November 1st, so you should receive one this week if you haven't already.
California's tax rebate is thought to be the country's greatest ever. As part of California's Golden State Stimulus II program, around 70% of the state's population is projected to receive a check for at least $600.
Furthermore, depending on their qualifications, Americans may be eligible for an additional $1,400 stimulus check in April 2022. New parents will be eligible for a second stimulus payment in 2022, according to MARCA, with new parents getting an additional $1,400 after taxes.