PLUS-up stimulus checks worth $1,400 could be coming to an end soon – so, when do they finish and are you eligible?
The latest round of IRS stimulus payments are set to finish on December 31, 2021.
The IRS is promising to pay out eligible recipients every week until the deadline, which was set in stone by Congress.
The checks are up to $1,400 per adult whose income dipped in 2020, while dependents also eligible for the same amount.
Plus-up payments are extra stimulus checks sent out to those who received a stimulus check based on their 2019 tax return or information received from the Social Security Administration.
According to US News, some tax-payers whose income was lower in 2020 than in 2019 are eligible.
Cassandra Kirby, a senior executive at wealth advisor Braun-Bostich & Associates in Pittsburgh, said: "Let's say a married couple with one child had adjusted gross income of $165,000 in 2019, and because their income was more than $160,000, they are not eligible for any portion of the third payment.
"However, in 2020, they had another child and their adjusted gross income dropped from $165,000 to $155,000."
That's because they would fall within the $150,000 to $160,000 threshold with an additional dependent and would be eligible for $2,800 in stimulus money.
The same goes for anyone who claimed an elderly or disabled dependent on their taxes in 2020.
This can include elderly or disabled relatives or college students under the care of an individual.
This round of cash marks the ninth set of payments since the $1,400 stimulus checks were authoized by Congress in March.
You can claim your payment by filing a federal tax return.
The payments are sent separately from your 2020 tax refunds and are typically issued within two weeks of the time your tax return was processed, according to Macra.
The total number of payment sent to Americans is about 165 million, or $388 billion, according to CBS News.
About 500,000 of those payments were made via direct deposit, while the rest were via checks.
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