Extra government stimulus checks appear to be a long shot at this point, but many people are still hopeful that Congress or the IRS would announce some good news about more stimulus money. The IRS did release news on coronavirus stimulus checks on Wednesday, but it was just for the third wave. The IRS reported that it had completed the third round of stimulus payments.
New stimulus checks from IRS
The agency confirmed in a press statement on Wednesday that all third-round stimulus checks had been mailed out. The IRS began delivering the third stimulus checks in March of last year, with the final payment being made in December, according to Entrepreneur.
According to the agency, it is “no longer issuing payments as required by law,” has issued over 175 million payments totaling more than $400 billion as of December 31. Individuals and families from all around the country received these payments.
Although the IRS has completed mailing the third stimulus checks, it claims that some of the checks delivered in late December, including additional payments, may still be in the mail.
A supplementary payment is for people who got their third stimulus payment based on their 2019 tax return but were later discovered to be eligible for extra money when the IRS reviewed their 2020 tax return.
There’s a twist!
Per USA Today, the $1,400 stimulus payment is not limited to children under the age of 17. For example, if your child is still in high school and is 18 or 19, he or she is eligible for stimulus money in 2021. Furthermore, if you’re supporting a college student and still claim them on your tax return, there was a stimulus check made just for the last year.
They were also eligible for a $1,400 stimulus check if they paid more than half of the costs of caring for a handicapped adult or senior dependent. It’s not too late to claim the stimulus payments for these dependents if you didn’t do so in 2021. While you won’t get $5,000, $1,400 isn’t chump change.
Congratulations if your family increases in 2021! Now is the time to file your taxes as soon as feasible. The deadline for most taxpayers to file is April 18.