How to Get Your $1,400 Stimulus Check from Biden’s Rescue Plan

Are you wondering when and how you will receive your $1,400 stimulus check from President Biden’s $1.9 trillion coronavirus relief package? You are not alone. Millions of Americans are eagerly awaiting the third round of stimulus payments, which are expected to provide a much-needed boost to the economy and help struggling households cope with the pandemic.

In this article, we will explain everything you need to know about stimulus checks, including who is eligible, how much you will get, when you will get it, and how to claim it if you did not receive it or received less than you expected.

Another Stimulus Check: What You Need to Know

Who is eligible for the $1,400 stimulus check?

The eligibility criteria for the $1,400 stimulus check are similar to the previous two rounds of stimulus payments but with some important changes.

To qualify for the full $1,400 payment, you must have:

• A Social Security number (or be a qualifying resident alien)
• An adjusted gross income (AGI) of up to $75,000 for single filers, $112,500 for head-of-household filers, or $150,000 for married couples filing jointly
• Not be claimed as a dependent by another taxpayer

If your AGI is above these thresholds, your payment will be reduced by $5 for every $100 of income above the limit, until it phases out completely at $80,000 for single filers, $120,000 for head of household filers, or $160,000 for married couples filing jointly.

Unlike the previous two rounds of stimulus payments, the $1,400 payment will also include an additional $1,400 for each dependent you claim on your tax return, regardless of their age. This means that you will receive an extra $1,400 for your children, your spouse, your parents, or any other qualifying relative who meets the IRS definition of a dependent.

How much will I get from the $1,400 stimulus check?

The amount of your stimulus check will depend on your income, marital status, and number of dependents. You can use this stimulus check calculator to estimate how much you will receive based on your 2019 or 2020 tax return, whichever is the most recent one the IRS has on file.

Here are some examples of how much different households could receive from the $1,400 stimulus check:

• A single filer with no dependents and an AGI of $50,000 would receive $1,400.
• A head of household filer with one dependent and an AGI of $75,000 would receive $2,800.
• A married couple filing jointly with two dependents and an AGI of $100,000 would receive $5,600.
• A single filer with no dependents and an AGI of $85,000 would receive $0.
• A head of household filer with one dependent and an AGI of $130,000 would receive $0.
• A married couple filing jointly with two dependents and an AGI of $170,000 would receive $0.

When will I get my $1,400 stimulus check?

The IRS has already started sending out the stimulus payments to eligible Americans and will continue to do so over the next few weeks. The fastest way to receive your payment is via direct deposit if you have provided your bank account information to the IRS on your 2019 or 2020 tax return, or through the Non-Filers tool last year.

If you do not have direct deposit, you will receive your payment by paper check or prepaid debit card in the mail. However, this may take longer, as the IRS has to process and print millions of checks and cards.

You can track the status of your payment using the Get My Payment tool on the IRS website. The tool will show you the date and method of your payment, and whether you need to provide any additional information to the IRS. You can also update your bank account information on the tool if you have not received your payment yet.

How to claim the $1,400 stimulus check if I did not receive it or received less than I expected?

If you did not receive your stimulus check or received less than you expected, you may be able to claim the Recovery Rebate Credit on your 2020 tax return. The Recovery Rebate Credit is a refundable tax credit that allows you to claim any missing or reduced stimulus payments that you are eligible for based on your 2020 income and dependents.

To claim the Recovery Rebate Credit, you will need to file a 2020 tax return, even if you do not normally file or have no income to report. You will also need to know the amount of stimulus payments you received or were eligible for in 2020. You can find this information on the Notice 1444 and Notice 1444-B that the IRS mailed to you after sending your payments.

You can claim the Recovery Rebate Credit on Line 30 of Form 1040 or Form 1040-SR, or by using the IRS Free File program if your income is below $72,000. You can also use a tax software or a tax preparer to help you with your tax return and claim the credit.

If you are eligible for the Recovery Rebate Credit, you will receive it as part of your tax refund, either by direct deposit or paper check. However, your refund may be delayed or reduced if you owe any taxes, child support, student loans, or other federal or state debts.

Conclusion

The $1,400 stimulus check from Biden’s rescue plan is a welcome relief for many Americans who are facing financial hardship due to the pandemic. However, there are some important details and deadlines that you need to be aware of to make sure you receive your payment and claim any missing or reduced amounts.

We hope this article has answered your questions and helped you understand how the stimulus check works. If you have any further questions, you can visit the IRS website or contact the IRS by phone at 800-919-9835.

Remember, Hustlers, the stimulus check is not a handout, but a lifeline to help you survive and thrive in these challenging times. Use it wisely and invest in your future. And don’t forget to check out our website, HustleHub, for more tips and resources on how to make money online and offline.