A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?
1 day ago

A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?

Associated Press  

Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks. The IRS said it’s distributing about $2.4 billion to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns. The special payments announced by the IRS are being sent to those taxpayers who filed a 2021 tax return but left the data field for the Recovery Rebate Credit blank or they filled it out as $0 when they were actually eligible for the credit. In December 2020, eligible individuals received up to $600 per income tax filer and $600 per child under the Consolidated Appropriations Act. In March 2021, eligible individuals received up to $1,400 per income tax filer and $1,400 per child under the American Rescue Plan Act.

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A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?
Trending News
1 day, 16 hours ago

A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?

India Today  

Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the Internal Revenue Service in the coming weeks. The IRS said it’s distributing about $2.4 billion to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns. The special payments announced by the IRS are being sent to those taxpayers who filed …

More people than ever owe money to the IRS - why Americans who are used to getting a refund in April are in for a shock
11 months ago

More people than ever owe money to the IRS - why Americans who are used to getting a refund in April are in for a shock

Daily Mail  

The IRS last month announced it would scrap $1 billion in penalties Many taxpayers got used to special tax breaks during the pandemic and are now finding their bills much bigger America's tax debts are spiraling after the IRS put a halt to chasing payments during the pandemic. Florida financial advisor Paxton Driscoll told DailyMail.com: 'People should definitely be aware …

Taxes: Biden’s stimulus delivered a bigger tax cut to lower-income Americans than the 2017 GOP reform, report shows
3 years, 7 months ago

Taxes: Biden’s stimulus delivered a bigger tax cut to lower-income Americans than the 2017 GOP reform, report shows

CNN  

CNN — While President Joe Biden and congressional Democrats are readying their plan to hike incomes taxes on the wealthy, a new government report shows that their $1.9 trillion relief package slashed taxes for lower- and moderate-income Americans for this year. This is a far bigger tax cut for Americans on the lower and middle rungs of the income ladder …

Coronavirus stimulus payments from $US1.9 trillion Biden relief package to hit US bank accounts this weekend
3 years, 9 months ago

Coronavirus stimulus payments from $US1.9 trillion Biden relief package to hit US bank accounts this weekend

ABC  

Americans will see the first direct deposits from President Joe Biden's $US1.9 trillion COVID-19 relief package hit their bank accounts this weekend, according to Treasury and Internal Revenue Service officials. Key points: The stimulus payments will help 160 million US households A family of four will receive up to $7,200 in stimulus payments Coronavirus kills an average of 1,400 Americans …

What you’ll get from the stimulus: Child tax credit, unemployment and more
3 years, 9 months ago

What you’ll get from the stimulus: Child tax credit, unemployment and more

CNN  

Washington CNN — The $1.9 trillion coronavirus package contains a wide range of benefits to help Americans who are still struggling with the economic fallout of the pandemic. Here’s how Americans could benefit from the legislation: If your family makes less than $160,000 a year The bill provides direct payments worth up to $1,400 per person to married couples earning …

Americans can get $1,400 COVID cheques in days, tax experts say
3 years, 9 months ago

Americans can get $1,400 COVID cheques in days, tax experts say

Al Jazeera  

Tax experts say some Americans could receive $1,400 stimulus cheques as early as this week, but changes to the child tax credit present a massive undertaking. With plenty of practice sending coronavirus relief payments to Americans, the US federal government should be able to launch the delivery of $1,400 cheques almost immediately once Congress finalises a new aid bill and …

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