Surprise money you weren’t expecting is generally a good thing, right? Especially when it involves more stimulus checks going out to certain people, who meet a certain very specific requirement.
In this case, no, we’re not talking about anything that counts as a fourth stimulus payment. And the sixth and final child tax credit check of 2021 is less than a month away now. So having said all that, here’s how some of you are nevertheless getting another stimulus check for $1,400 in 2022.
More stimulus checks coming?
Giving birth this year is the deciding factor. Parents who welcomed a newborn child at any point in 2021 are likely eligible for another stimulus check, for $1,400, in 2022, according to a number of sources. They would get that check upon filing their federal taxes in 2022, something we laid out in previous posts.
Technically, this shouldn’t really count as a fourth stimulus check along the lines of the previous three. That’s because those payments (for $1,200, $600, and $1,400) were broad-based, distributed to the vast majority of Americans. The requirement of giving birth, of course, touches a much narrower slice of the population. Meaning, this payment also doesn’t give the federal government a nice, widespread pop in the economy like it was hoping with those previous three checks.
it should also probably come as no surprise that there’s an income threshold involved here. Single filers can’t make more than $75,000 a year in adjusted gross income in order to receive this payment. For couples? Their income has to be less than $150,000 to get the full payment. The $1,400 starts phasing out for incomes above those levels. And it phases out completely for single filers who make more than $80,000, as well as couples who make more than $160,000.
Another check in December
Along these same lines, regarding stimulus checks and children, as we noted above there’s one more child tax credit payment coming in just a few weeks.
December 15 is the date for the final payment in the six-check series this year. If the past few checks are any guide, this next wave will send out another tranche of $15 billion payments. And around 36 million or so families will be the recipients.
Also next month, Democrats are expected to finally secure passage of President Biden’s big social spending bill. At that point, we’ll know whether the expanded child tax credit — and the monthly checks — continue next year. The Biden administration has pushed to continue the checks for one more year.
Child tax credit recap
From the IRS: “Under the American Rescue Plan, most eligible families received payments dated July 15, Aug. 13, Sept. 15, and Oct. 15. The last payment for 2021 is scheduled for Dec. 15. For these families, each payment is up to $300 per month for each child under age 6 and up to $250 per month for each child ages 6 through 17.”
Any family who got advance payments of the child tax credit during 2021, the IRS continues, can claim the rest of the credit when they file their 2021 federal income tax return. To help them do that? “Early in 2022, families will receive Letter 6419 documenting any advance payments issued to them during 2021 and the number of qualifying children used to calculate the advance payments,” per the tax agency.