Who Might Qualify for the Recovery Rebate Credit? If you earned more than the threshold but not more than $80,000 ($160,000 for married couples), you received a partial third stimulus payment. The full payment was $1,400 for single individuals, $2,800 for married couples, and an additional $1,400 for each dependent. Individuals qualified for the full stimulus payment if their AGI was $75,000 or lower ($150,000 for married couples). The third stimulus checks were based on your 2019 or 2020 tax information. With the second stimulus check, your payment was reduced to $0 once your AGI reached $87,000 for individuals and $174,000 for married couples. If you earned more than $99,000 ($198,000 for married couples), you got no first stimulus payment. The second full stimulus payment was $600 for single individuals, $1,200 for married couples and $600 per dependent. The first full stimulus payment was $1,200 for single individuals, $2,400 for married couples and $500 per qualified dependent. The IRS reduced the stimulus payments by $5 for every $100 earned above the income thresholds. Individuals qualified for full stimulus payments if their adjusted gross income (AGI), which is income minus certain deductions, was $75,000 or less ($150,000 for married couples). The first two payments were based on your 2018 or 2019 tax information. Three rounds of pandemic stimulus checks were issued in 20. To find out you whether you missed out on money you were entitled to, you can contact the IRS, review your IRS online account or use the tax agency’s Get My Payment tool. You qualify for the recovery rebate credit only if the IRS didn’t give you a stimulus payment, or if you received a partial payment. Who Qualifies for the Recovery Rebate Credit and Stimulus Payments?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |