If you have not yet received your stimulus check for the COVID-19 pandemic or your tax credit, at GlobeLiveMedia we explain what you must do to obtain them. In this way, you will have a little financial help to overcome inflation in the US. Of course, do not wait too long, because the deadlines to request them are very close
With the inflation rates registered in the United States (and which, as the results of the Bureau of Labor Statistics show, still persist at very high levels, above 8%, despite the monetary maneuvers carried out by the Federal Reserve), it is not surprising that millions of people in the country are still seeking federal economic aid, such as stimulus checks and tax credits.
For this reason, at GlobeLiveMedia we tell you how to apply to request your stimulus checks and pending tax credits.
It should be noted that you can do everything online, without having to physically go to a specific office.
COVID-19 stimulus check
Good news for low-income families in the United States: there are still up to 10 million people who can receive a stimulus check from the federal government.
This was reported by the Government Accountability Office (GAO) on Tuesday, adding that low-income citizens have until November 15, 2022 to complete their simplified tax returns and obtain said benefit.
Who can receive this stimulus check?
“Based on data from the Internal Revenue Service (IRS) and the Department of the Treasury, there could be between 9 and 10 million eligible individuals (for a stimulus check due to the COVID-19 pandemic) who they have not yet received those payments,” the GAO said in a press release.
The requirements to receive these stimulus checks are simple: have individual income below $75,000 dollars a year or less than $150,000 dollars in the case of married couples.
How long do I have to qualify for this stimulus check?
You should know that the dates to meet the requirements to receive this payment are very close.
According to information from this institution, individuals with low income (or even no income, so they do not need to file taxes) have until November 15 to file their tax returns and receive their checks.
On the other hand, taxpayers who have missed the April 15 deadline have until October 17, 2022 to complete this procedure (filing their tax returns) and receive their payments.
What do I have to do in order to receive this stimulus check?
In order to receive this stimulus check, they must go to the IRS website and complete the simplified tax filing process.
Individuals who believe they are eligible but did not receive a 2020 or 2021 COVID-19 payment, or even the Child Tax Credit, can file a simplified tax return at ChildTaxCredit.gov.
Why are so many people missing their federal stimulus checks due to the pandemic?
According to the GAO report, many groups had difficulty receiving COVID-19 stimulus checks because:
1) They had never filed a tax return.
2) It was the first time they filed a tax return.
3) They had no bank accounts.
4) They had unclear immigration status.
5) They had limited or no access to the internet.
6) They did not have a domicile and were in a situation of indigence.
Child Tax Credit: time is running out to apply
The Child Tax Credit (CTC) is a benefit designed to help families in the United States cope with the costs of raising children.
Although it has existed for decades, in 2021 the number of beneficiaries was expanded due to the pandemic, including families whose income (and even migrants) are too low to have to file a tax return.
Although this measure demonstrated an immediate impact in reducing US child poverty, the US Congress allowed the Child Tax Credit to expire this year.
However, parents who have not yet claimed this tax benefit can do so retroactively until November 15, 2022.
To request it, you can enter the digital tool GetCTC.org.
Earned Income Tax Credit: How to Apply
The Earned Income Tax Credit (EITC) is a tax relief offered by the tax authorities of the United States federal government for low-income workers and families.
If you qualify for this help, you can receive stipends of up to $6,728 dollars from the Internal Revenue Service (IRS).
According to information published by the IRS, low-income workers can use this credit to reduce their tax amounts.
Generally, the largest credits are reserved for eligible working families, but low-income employees without children may also qualify for smaller credits.
Through this link, users can check the status of their credits.
Child and Dependent Care Credit
The Child and Dependent Care Credit is a tax credit designed to help you pay for the care of qualified children and other eligible dependents, according to information from the IRS.
To claim this credit, you will need to complete Form 2441, Child and Dependent Care Expenses, and include the form when you file your 2021 federal income tax return.