HomeUS PoliticsStimulus Update: $5,000 payments or more could be waiting on this group...

Stimulus Update: $5,000 payments or more could be waiting on this group of Americans

While it does not seem that a fourth stimulus payment will be made to Americans anytime soon, there is one group of Americans who may be eligible to receive a payment from the government in 2022.

“Individuals who added a kid to their family in 2021,” according to a Nasdaq.com study, might be in line for a nice little piece of dough – $5,000.

Yes, you read it correctly.

And here’s how it works: starting in 2021, there was a built-in stimulus payment of $1,400 per dependant, as well as an enlarged Child Tax Credit of $3,600 for children under the age of six and $3,000 for children aged six to seventeen.

Anyone who had a kid last year “counts as a dependant for both reasons of the stimulus payments as well as purposes of the Child Tax Credit,” according to the study. The IRS “wouldn’t have known about this kid yet when it was giving out these payments” in 2021, according to the study.

That indicates that those who fall under the category will be able to receive $5,000 in the near future. According to the article, anybody who added an older dependant, such as “parents who adopted a kid over the age of 6,” is also eligible for the $1,400 check and the enlarged Child Tax Credit. People in that bracket, however, would earn $4,400 instead of $5,000, according to Nasdaq.

Also Read: Ken Paxton, the Texas Attorney General who has battled vaccine mandates, has tested positive for COVID-19.

But let’s return to those who had children in 2021. According to the article, if you have more than one kid — say, twins — you may be eligible for a $10,000 credit.

And all you have to do to be paid is submit your tax return for the year 2021.

Anyone who falls under one of these groups will want to file their taxes as soon as possible.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments