Stimulus update: Here’s who will get a payment in 2022

It seems unlikely that the federal government will distribute a fourth stimulus check at this time. But even though the federal government is not issuing an official fourth stimulus check for everybody, there is one group of people eligible for additional relief money: parents who gave birth to a child in 2021. Here is what to know about this select group:

How are parents of newborns in 2021 eligible for the stimulus in 2022?

The parents of these newest Americans are eligible to receive payments up to $1,400 from the third and, as of right now, final round of stimulus checks issued in March.

To receive the payment, parents of the newborn child must file a tax return for 2021 in 2022 so they can receive the money in 2022.

Single parents earning up to $75,000 per year and couples making up to $150,000 per year are eligible to receive the full amount of the check.

Are parents of 2021 newborns also eligible for the expanded child tax credit?

Yes. Parents with 2021 newborns are also eligible to receive assistance through the expanded child tax credit that is also part of the federal government’s stimulus package.

Although you could have decided to tell the Internal Revenue Service (IRS) about your little one to get the monthly tax credit installments in 2021, you can still get the full $3,600 credit when you file your 2021 tax return in 2022 and claim the infant as a first-time dependent.

Source: NJ.com