Plenty of people were able to benefit from the stimulus checks they received throughout the pandemic. Eligible Americans found themselves with three rounds of stimulus payments! Even as the COVID pandemic comes to an end, many of those in need could still use some more assistance. There is another stimulus check coming out that some may not know about! In fact, lots of Americans can expect to get an additional stimulus of up to $1,400 due to their tax return! The American Rescue Plan (ARP) made this possible. Qualifying individuals that claim a dependent on their taxes may be able to get this remaining portion of the third stimulus payment.
What to Know About Getting the 2022 $1,400 Stimulus
This additional stimulus payment is actually a part of the third round of stimulus payments that eligible Americans received. People started receiving the third round of stimulus payments (also known as the 2021 Economic Impact Payment) back in March 2021. These payments came from the Recovery Rebate Credit (RRC) and were given as an advance. However, individuals may be able to claim the remaining portion of these stimulus funds in 2022 when they file their 2021 taxes. Even though it is based on information from 2021, people will receive payments in 2022. The day to file taxes has come to an end for people unless they have filed an extension. If they filed an extension they have until October 17, 2022.
Who Can Get the Additional Stimulus from the Recovery Rebate Credit?
Assistance that the RRC can provide is up to $1,400. However, to learn specifics about this tax credit and get additional information you will want to reach out to a tax professional. There are some eligibility requirements around who can get these extra funds which includes:
- Qualifying Citizenship Status: Must be an American citizen, or a U.S. resident alien.
- Meeting Income Requirements: Individuals cannot have an adjusted gross income of over $75,000. A married couple filing jointly cannot have an adjusted gross income of over $150,000. The head of household cannot have an adjusted gross income of over $112,500.
- Having a Qualifying Family Status: Dependents need to be younger than 19 years old by the end of the year (except for certain circumstances like they are a student). However, a dependent can be any age if they are permanently disabled. The dependent must have a specific relationship to the taxpayer like as a child, foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them.
However, some people may find themselves ineligible if any of the following conditions apply:
- You’re claimed as a dependent on someone else’s tax return
- You are a non resident alien
- You do not have a valid social security number by the due date of your tax return
If you qualify to receive payments from this RRC then they can either reduce the amount you owe or be provided in your tax refund for 2021 (which you will receive in 2022).
State Stimulus Payments
While not every American can qualify for the RRC stimulus, there are other stimulus opportunities that can help! While it’s not looking like there will be another nationwide stimulus, there are states that chose to offer their own version of a stimulus. Some of these payments have been provided (even before 2022!). On the other hand, some are still eligible to be claimed. Some states that are providing additional stimulus assistance to their residents include:
The worker shortage is impacting countless industries in America. That is why Arizona offered $2,000 to those that get a job after they received unemployment benefits during a specific timeframe. This is known as the Return-to-Work bonus and will require verifiable information in order to qualify. However, the application window for this opportunity has come to an end.
There are two support opportunities that California residents had that we want to mention! This support was for middle-class families to receive up to $1,100 in stimulus assistance. The first $600 will go to families that meet qualifying criteria. However, those same families may be able to receive an extra $500 if they have children. This support was made available through the Golden State Stimulus I (GSS I). Another opportunity was under the Golden State Stimulus II (GSS II). This was a different opportunity but still gave eligible families the chance to receive up to $1,100.
Many people know Florida as a state full of wild stories. However, Florida can also be known as a state that cares about its residents thanks to the Florida’s Heroes Initiative. Qualifying first responders like EMTs, firefighters, paramedics, and police officers received up to $1,000. Teachers and principals were also able to qualify to receive disaster relief payments of up to $1,000. Plenty of people were able to benefit from this option. In fact, over 193,000 people had the opportunity to benefit from this extra stimulus. These payments were not provided all at once.
Maine’s Department of Administrative and Financial Services (DAFS) provided stimulus payments of $285 to people that worked throughout 2020. These funds were sent in the form of a mailed check. Qualifying criteria must be met like:
- Worked continuously throughout 2020
- Filed an individual income tax return by October 31st, 2021
- Make less than $75,000 as an individual or $150,000 as a couple
- Haven’t been claimed as a dependent on another taxpayer’s tax return for a specific timeframe
The Maryland Relief Act of 2021 gave qualifying families up to $500 in stimulus assistance if they filed for the Earned Income Tax Credit (EITC). If an individual filed for the EITC (and not as a family) then they would only be eligible for up to $300. The best part? Recipients of these funds don’t have to apply to get them!
Michigan is providing additional assistance thanks to the Child Care Stabilization Grant. This grant can give full-time child care professionals bonuses worth $1,000! These bonuses were provided through employers so recipients will not have to apply.
Thousands of low-income households in New Mexico received another stimulus payment of $452 around July 2021. This stimulus was given since some households in need weren’t able to get a round of federal stimulus payments.
Another state that aims to help its educators is Tennessee. Qualifying teachers can receive extra stimulus assistance! However, the amount that they can receive will vary by district. To find out how much you may be able to receive you will want to confirm with your locality!
Unlike a traditional stimulus payment, Vermont aims to provide assistance a little differently. While the state did provide cash payments of up to $2,000 to frontline workers with the Frontline Employees Hazard Pay Grant Program, that was done all the way back in January 2021.
However, assistance now is a bit different. Vermont wants to encourage people to move to the state by providing a reimbursement for up to $7,500 in qualifying moving costs. This isn’t available to everyone and is only an option for those that work in specific industries. While this specific opportunity has come to an end, another opportunity is the New Remote Worker Grant. This opportunity may be able to provide support until the funding of $130,000 has run out.
There are more opportunities for extra assistance than people may realize. Whether it is a national opportunity like with the Recovery Rebate Tax Credit or with a state opportunity, there are assistance options out there that may be able to help. In fact, there may even be extra assistance that comes up. You will want to keep checking to see if there are other stimulus opportunities for your state and keep an eye on the news to see if there will be any federal assistance that becomes available.