EARLY tax filers may be rewarded with with extra cash in the form of a “bonus check” or “plus-up payment” in the coming weeks.
According to the IRS, Americans who received a stimulus check based on their 2019 tax returns might be eligible for more money once their 2020 return has been processed.
Read our stimulus checks live blog for the latest updates on Covid-19 relief…
Americans who received a stimulus check based on their 2019 tax returns might be eligible for more money[/caption]
The additional “plus-up payments” will be sent to those whose economic situations changed between 2019 and 2020.
If their newest tax filing shows a drop in annual income or a new child or dependent, then more money could be on the way.
This particularly applies to those who didn’t qualify for the full $1,400 check in the third round of stimulus based on returns from 2019, but do for their 2020 returns.
It will also apply to Americans who got married in 2020 and filed a joint return for the year, with an adjusted gross income of less than $150,000.
If an individual wasn’t required to file taxes in previous years but did this year, then more money may also be on the way for them too.
The additional ‘plus-up payments’ will be sent to those whose economic situations changed between 2019 and 2020[/caption]
The additional payments, first announced on April 1, will be sent out by the government in the next few weeks.
The tax filing deadline for 2020 is May 17.
Millions of Americans are also due to receive their third economic impact payments this week, as the IRS has been sending payments through the month of April, according to an IRS.gov press release.
A seventh batch of nearly two million payments from President Joe Biden’s $1.9 trillion American Rescue Plan began processing on April 23, with an expected payment date of April 28.
Most read in US News
Peloton recalls treadmills after kid died and dozens of others injured
'STOP SEXUALIZING ME'
Student angry after teacher told her she was 'letting them hang out'
'EMBARRASSMENT TO US'
Trump says 'corrupt' big tech 'must pay price' as Facebook ban upheld
‘I’M STILL RICH’
Bill Gates spoofs appear on Tinder offering dates ‘3rd Covid dose’
Woman missing for 6 months found by chance when drone crashes near her tent
Diner pulls gun on BLM protesters in restaurant during Breonna Taylor rally
The IRS says these funds total $4.3 billion across the nearly two million payments.
Some people may have seen the money in their account, marked as pending, prior to April 28.
For those receiving paper checks, the payments should arrive sometime this week.