For those who qualify, one-time direct payments up to $5,000 are planned.
After a data breach settlement agreement, affected consumers can now request a direct payment.
Those affected are eligible to apply for a maximum of $5,000 from a pool of $1.8 million.
Following a data breach that occurred between June 23 and September 8, 2022, no credit financing firm, Snap Financing, is making the payment.
Despite not acknowledging any misconduct, the business has promised to reimburse the impacted clients.
To be eligible for a settlement award, class members must submit a verified claim form by January 16, 2024.
How to find out if you are owed stimulus payments
Under the most recent stimulus round, qualifying Americans can get the maximum amount if their income is $75,000 or less, or $150,000 for couples. The $1,400 check starts to taper off after those amounts and is limited to $80,000 and $160,000, respectively. For the other two rounds, the prerequisites are the same, but the phase-out guidelines are not.
For example, if your income exceeds $86,999 (or $173,999 for married couples), you are not eligible to receive a stimulus payment.
If you were to get any funds from the first round ($1,200), your income had to have been less than $99,000 or $198,000.
In three stimulus rounds from April 2020 to 2021, an estimated 165 million Americans got payouts totaling $931 billion, according to a Government Accountability Office (GAO) analysis. Millions of Americans may still be in debt even if the majority of them have already received their third stimulus payment. Actually, according to GAO estimates, nine million to ten million Americans are still in debt from stimulus payments.
There’s a simple method to find out if this applies to you if you’re not sure.
Up to two significant letters on stimulus and child tax credit payments from the previous year should have been sent to Americans in 2022.
You can use Letter 6475, which is related to stimulus funds, to find out if you are eligible to claim the recovery rebate credit on your 2021 tax return.
You may find out how much stimulus money you received in various ways if you haven’t gotten a letter or accidentally tossed it away.
You may either go into your online account and click on the “economic impact payment information” part on the tax records page, or you can check your bank statements to see how much has been deposited.
How to track down your payment and claim the cash
The IRS reports that over 143 million tax returns have been handled so far this year. The majority of tax returns are handled in 21 days, or six to eight weeks if you file on paper. However, if your tax return needs more examination, it may take longer. 5.8 million individual returns remained unprocessed as of September 30, according to the IRS. These returns included ones from the previous year and ones for the tax year 2021.
Here’s how to trace a payment if you’re still waiting on it:
To figure out the anticipated amount of the stimulus payment, you will need to register online or consult IRS Notice 1444-C, which was mailed out. Additionally, by creating an IRS online account and securely accessing your personal tax data, you may examine the entire amount of your economic impact payments under the 2021 tax year tab. When you submit your 2021 federal tax return in 2022, the amount of the third payment and any plus-up payments you received will be necessary to precisely compute the 2021 recovery rebate credit.
Claim the recovery rebate credit if you see a notification stating that your payment status is unavailable. Even if you are not obliged to, you must file a 2020 tax return since the recovery rebate credit uses data from your 2020 tax return to determine your eligibility and the size of your stimulus check.
To find out if you qualify for a payout, you must complete the recovery rebate credit worksheet.
Check your online account to see how much your economic impact payments (EIP) are. The sum of your first, second, and third stimulus amounts may be viewed online via a secure login to your individual IRS account under the “economic impact payment information” part of the tax records website.
To get their share of the payment, married couples filing jointly must have each spouse access their own online account or examine their own letter.
Ways to claim your stimulus money
The simplest method of making a claim is to just file your taxes and get credit for the recovery rebate.
But not everyone is required to file and is eligible to utilize low-income Americans’ GetCTC service.
This pertains to individuals who, for some reason, did not submit a federal income tax return in 2019, 2020, or 2021.
- You make less than $12,200 a year.
- Your combined income as a married couple filing jointly is less than $24,400.
- You make no money.
Use caution while using this tool if you obtained an extension and filed before October and will be filing a 2022 return.
This includes those who, although not being compelled to, submit a tax return, do so in order to receive a refund.
It will take longer to complete your tax return and provide any refund if you use the tool in place of filing your 2022 return.
