Over the past several years, both the IRS and the United States government have sent millions of stimulus checks to help needy families. These stimulus checks have overwhelmingly helped people affected by the pandemic.
So we can confirm that these stimulus checks that reached citizens in previous years were exceptional for reasons of the world situation. However, there is a stimulus check that is sent every year and only one group of citizens can receive it.
This so-called stimulus check is always sent by the IRS to families that meet several conditions. We are talking about the Child Tax Credit. To be more precise, we are talking about the Child Tax Credit pertaining to last year, 2022. If you haven’t received this check yet but you are eligible to get it, pay attention. Will you receive this stimulus check soon?
Who will receive the new stimulus check?
As we have already mentioned above, only one group of people can receive this new stimulus check. In order to receive it, you must meet certain requirements. The first of these requirements is to have a child. This Child Tax Credit is for the year 2022. So the other requirement is that you have not yet received a Child Tax Credit for this year.
In addition to these requirements, there are others that we must take into account. Financially, the family must have an income of less than $150,000. This is the case when the tax return is filed as a couple and jointly. In the case of parents filing separately, the limit for each parent is $112,500. Each family is in a different situation, so pay attention to that.
Do I have to report this stimulus check to the IRS?
This stimulus check is actually a tax refund, so we won’t need to report it as income to the IRS. However, we need to be very careful about it. We should not neglect our return or anything we include on it. For that reason, we should seek an advisor in case we are not sure what we have to declare and what we do not have to declare.
There is still a lot of time left of the tax season, so it is advisable to turn to a professional for help. And in case you have not received this check yet, claim it in order to be able to cash it and thus not have problems to receive it. The most important factor in whether or not you will receive this type of check is whether or not you have submitted your tax filing. If we have all our taxes paid, the IRS will be able to determine if we really deserve this Child Tax Credit or not.
Also, remember that we are talking about last year’s taxes. It may be that the personal situation has changed, so that we cannot currently apply for it, but since it is related to a past situation, we must take into account the past income.
How can I get a stimulus check without filing taxes?
To obtain a stimulus check without filing taxes, all you have to do is fill out the form that appears in the ‘Non-Filers‘ section through the official IRS website. If the application is approved, then you can get a one-time payment of $1,200 or $2,400 as a couple, plus an extra $500 per dependent (maximum of three).
However, because the process is done purely online, about 12 million people will not be able to receive a stimulus check, since most of the citizens targeted by this deadline extension are extremely low-income people, who will find it practically impossible to have access to technology.