It’s the season – both for holiday cheer, as well as a plentiful supply of stimulus money. As the last month of 2021 draws to a close, there will be no shortage of emergency cash for millions of Americans. Some of which amount to a fourth stimulus check, even, as the emergency response to the coronavirus pandemic continues unabated.
If we take a step back to consider this year, the stimulus efforts have in fact been so vast and so extraordinary, it’s almost hard to believe that in January? We were still months away from the very idea of a third stimulus check being a reality. And the spate of six-check child tax credit payments, of course, didn’t materialize until months after the passage in March of the $ 1.9 trillion law that made it possible to control Raise # 3. Meanwhile, as we move closer to the final days of 2021, here’s a look at some of the last payouts of 2021 – which might even come as a kind of stimulus-related surprise to some people.
Surprise stimulus payments
For some people, the surprise isn’t the check itself, but rather its size.
Take the December child tax credit payment, for example. Most checks issued by the IRS will be for the standard amount. A few hundred dollars, per eligible child. Some families, however, will only now have begin to get those checks in December.
If this is you, what if you registered before November 15th? The IRS is actually going to send you some sort of catch-up check this month.
What took six checks from other families will come back to others in the form of a lump sum catch-up payment. It’s a way to make sure that even the late comers, so to speak, still get the money they are owed – up to $ 1,800, per eligible child, through these lump-sum catch-ups. By the way, the sixth and final checks will be out on December 15th. Also this month, on a related note, we may learn that these checks will be extended until 2022.
Fourth stimulus check in some states
The wave of stimulus checks coming around Christmas also includes payments from other sources, not just the federal government.
States like Maine, for example, send checks to residents. In that state, a one-time payment worth $ 285 goes to over 500,000 residents. These checks are issued in waves until the end of the year.
Ditto in California, where the Golden State Stimulus II pays residents up to $ 1,100. Likewise, in Florida, where Governor Ron DeSantis proposed another round of payments of $ 1,000 to teachers.
Increased payments
Meanwhile, the end of December also marks the end of so-called “plus-up” payments. Basically, the IRS describes them as “extra payments for people who … have received payments based on their 2019 tax returns, but are eligible for a new payment or larger payment based on their income. recently processed 2020 income tax returns ”.
The IRS sends them out until December 31. By the way, payments could also include a situation where a person’s income fell in 2020 compared to 2019, or a person had a new child or a dependent listed on their last tax return, among other situations.
