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ARLINGTON, VA - JANUARY 27: The Space Shuttle Columbia and Space Shuttle Challenger Memorials are seen after a wreath laying ceremony that was part of NASA's Day of Remembrance, on January 27, 2022, at Arlington National Cemetery in Arlington, Virginia. Wreaths were laid in memory of those men and women who lost their lives in the quest for space exploration. (Photo by Bill Ingalls/NASA via Getty Images)
It's not too late to file a claim for a loved one who passed away.
President Joe Biden signed the American Rescue Plan, which was meant to assist Americans cope with an economy crippled by COVID-19, over 11 months ago. One aspect of the scheme entailed placing $1,400 stimulus checks into most Americans' bank accounts. The problem is that 2021 was a stressful year for many, and a third stimulus check was the last thing on their minds.
You may claim deceased family member's stimulus check
According to the IRS, anyone who died in 2021 without receiving a $1,400 stimulus payment is still entitled to one. If they died between January 1 and December 31, 2021, their estate can file a claim for stimulus funds owed to them.
If you're filing for someone who died in 2021, the IRS recommends using the Recovery Rebate Credit Worksheet to see if they're entitled for the payments, as per Motley Fool. If a person owes taxes in 2021, the Recovery Rebate Credit will reduce the amount owed. If the payment is due, it will be included in their tax return and sent into their bank account as soon as possible.
Making plans for someone after they pass away can be difficult, especially if they did not leave you with clear instructions. If you're trying to settle the affairs of someone who left you with scant financial information, you might not know if they received a stimulus payment in 2021.
There are a few options for finding out. If the deceased gave you a list of their internet passwords and has an IRS online account, the first (and quickest) may be handled. If this is the case, you can check in to see if (and when) money was received.
Check the ledger for a $1,400 deposit from last spring if you don't have access to their online IRS account but do have access to their most commonly used bank account. If it was promptly deposited, an "IRS TREAS" mark will appear in the description.
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Why may you not get a third stimulus check?
The American Rescue Plan Act of 2021, which was signed into law on March 11, 2021, allowed the third wave of stimulus checks, which were paid from March through December last year. Round 3 of the so-called stimmies (a slang name for stimulus payments) allowed taxpayers to claim a maximum credit of $1,400 per person, including all qualified dependents stated on a tax return.
Per AARP, depending on income restrictions, a married couple with two qualified dependents may be entitled for a maximum credit of $5,600. Provided you had a baby last year, you can submit for up to $1,400 in back taxes owing to you for your new family member if you identify the kid as a dependent.
For single filers with an adjusted gross income (AGI) of more than $75,000 and married couples filing jointly with earnings of more than $150,000, the credit has decreased in magnitude. The credit for heads of family is lowered between $120,000 and $112,500.
Individuals with an AGI of more than $80,000 and married couples filing jointly with an AGI of more than $160,000 lose the credit completely. Household heads with earnings of more than $120,000 are likewise not eligible for the stimulus package. According to the IRS, most qualified Americans have already received their stimulus check.
Is it possible to claim a third stimulus check?
Some persons were denied a third stimulus payment because they were not qualified. Others, on the other hand, were left out or given less than they were due for a variety of reasons that will not preclude them from receiving payment this year.
If you didn't submit a 2019 or 2020 tax return and didn't receive a third stimulus check, you can still claim a payment when you file a 2021 tax return. If you have a kid in 2021, you will be eligible for an additional $1,400 per dependent for the child who was not included in last year's third stimulus check payment.
If your family has undergone additional recent changes, you may be eligible for a stimulus check when you file your 2021 tax return. However, to get the money owed to you by the IRS, you must file a 2021 tax return, as per Yahoo Finance.
Related Article: 2022 Stimulus Check: This Group of Americans Is Eligible for Another $1,400 Other Than the Third Round of Payments
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