$1200 Federal Checks Direct Deposits Coming As Relief for US Citizens: Here’s How to Claim. The government of the US has launched many federal payment programs to provide financial relief to its citizens, especially at times of financial crisis. The government has launched $1200 federal checks that are coming soon to offer monetary aid to millions of Americans. To learn about the $1200 federal checks for US citizens, their eligibility criteria, and how to claim them, read the complete blog.
$1200 Federal Checks Direct Deposits Coming As Relief for US Citizens
The $1200 federal check payments are a relief for all those individuals who may have missed out on previous stimulus checks due to incomplete or overlooked tax filings. The main aim of these stimulus checks is to provide financial relief to eligible citizens who are facing financial distress. These payments are launched to fill financial gaps and make sure that no eligible resident is left without the monetary help they need.
The idea for laumching federal relief payments took shape during the COVID-19 pandemic to reduce the burden of essential expenses on many households. The Economic Impact Payments were approved for three rounds:
- First Round: It was named the CARES Act and was launched in March 2020. Under this round, the eligible individuals will receive up to $1,200, with an additional $500 for each qualifying dependent.
- Second Round: The second round was launched in December 2020. Under this round, the eligible individuals will receive up to $600 per person.
- Third Round: The third round was named the American Rescue Plan and was launched in March 2021. Under this round, the eligible individuals will receive up to $1,400, including eligible dependents.
Eligibility Criteria
To be eligible for these payments, an individual must first meet the eligibility criteria set by the government to provide this relief to eligible individuals only.
- Citizenship and Residency: To be able to receive the payment, you must be a citizen or a permanent resident of the US.
- Income Threshold: Your Adjusted Gross Income (AGI) must fall within the ranges set by the government to qualify for this payment.
- Individuals: AGI must be up to $75,000 to qualify for the full payment. The payment phases out entirely at $80,000.
- Married Couples: AGI must be up to $150,000 to qualify for the full payment. The payment phases out entirely at $160,000.
- Head of Household: AGI must be up to $112,500 to qualify for the full payment. The payment phases out entirely at $120,000.
- Social Security Number: It is mandatory for the individuals to have a valid Social Security Number (SSN) to provide their proof of identity and residency.
- Filing Status: Your 2021 tax return will determine your eligibility for this stimulus check payment. This includes:
- Those taxpayers who did not claim the Recovery Rebate Credit but filed a return.
- Those non-filers who meet the income thresholds and file by April 15, 2025.
- Dependents: An additional benefit of $1200 will be received by the individuals with dependents.
- Social Security and Other Disability Benefits: Recipients of Social Security, disabled individuals, and railroad retirees need not file a tax return as they are automatically eligible for this benefit.
How to Claim the $1200 Federal Checks Direct Deposits
The head in charge of distribution of payments is the Internal Revenue Service (IRS). They will use direct deposit to ensure funds reach recipients in a quick and more secure way.
You can claim the payment by following the simple steps given below:
- File Your Taxes: Ensure your latest tax return is filed. This information will be used by the IRS to determine eligibility and deposit details.
- Review Your Banking Details: You have to list your bank details on your tax file and your payments will be deposited in that account. If there is any change in your current bank account, you can update it through the IRS online portal.
- Track Notifications: You will receive a letter from the IRS with information about the payment, including the amount deposited.
FAQs
What should I do if my payment is delayed?
If you’re eligible for the payment and it hasn’t arrived on the due date, then you can use the IRS “Get My Payment” tool or contact their support line for assistance.
Is the $1200 payment taxable?
No, the $1200 federal check payment is tax-free.