If the global health crisis has made it difficult to sustain yourself financially then you should be happy to know that there is a fourth stimulus payment available in 2022. This $1,400 stimulus is available at the start of the new year, but there are some criteria that you’ll need to meet if you want to be eligible. $1,400 is quite a lot of money, so we’ll be explaining everything you need to know if you want to claim it.
What is the fourth stimulus check for?
This fourth stimulus check is part of the new American Rescue Plan which includes $1,400 per-person checks for people making under a certain amount of money. When people received their third stimulus check, it was essentially an early tax refund. This is why it was called the 2021 Economic Impact Payment (EIP) which was actually an advance on the 2021 Recovery Rebate Credit. Despite being for the year 2021, you can actually claim an additional stimulus that will be provided in 2022.
If you didn’t receive the full amount that you expected by December 31st, 2021, then you can claim the rest of the money you were meant to receive when you submit your taxes in 2022. Every state will receive a Federal budget to distribute these funds, but each administration will decide how the funds are spent.
Do I qualify for a fourth stimulus check?
You’ll need to meet qualifying criteria to be eligible for Recovery Rebate Credit.
- For dependents, they must be younger than 19 at the end of the year unless they are still a student. If they are permanently disabled, then they can be any age.
- Dependents must have a specific relationship with the tax filer. They must be a child, brother, sister, foster child, stepbrother, stepsister, half-brother, half-sister, or a descendent of any of the above.
- You have an adjusted gross income under $75,000. If you are married and filing jointly, this will need to be under $150,000.
Are there other stimulus payments available?
Depending on where you live, you may be able to receive another stimulus payment. Some of these payments may have already been issued, but it’s worth checking just in case. Here are some examples by state:
You may be eligible to receive $2,000 if you get a job after receiving unemployment benefits during a certain timeframe. This is known as the Return-to-Work bonus.
Middle-class families can receive an additional $1,100 stimulus check. $600 goes to families that meet a set of criteria, then another $500 is paid if they have children.
First responders in Florida can receive up to $1,000 via the Florida’s Heroes Initiative. This includes paramedics, EMTs, police officers, and firefighters. Teachers and principals may also be eligible for disaster relief payments of up to $1,000.
Teachers may be eligible for a stimulus check of up to $1,000 if they are employed full-time. Part-time teachers can receive up to $500. As of writing, these payments don’t extend to pre-K educators, but this may change in the near future.
If you live in Maine, you may be eligible for disaster relief payments if you worked throughout 2020. These payments are worth $285 and there are some criteria that you’ll need to meet.
The Maryland Relief Act of 2021 gives families up to $500 if they filed for the Earned Income Tax Credit. Individuals can receive up to $300.
You may receive up to $1,000 in bonuses thanks to the Child Care Stabilization Grant if you are a full-time child care professional. These bonuses are received through employers so you don’t need to apply.
Stimulus payments of $452 will be sent to 3,286 different low-income households that previously were not eligible to receive a round of federal stimulus payments.
Educators can apply for a fourth stimulus check, but the amount will vary depending on their district.
People that decide to move to Vermont can be reimbursed for up to $7,500 for eligible moving expenses. However, this is only eligible for people that work in certain industries.
So if you haven’t already, it’s worth taking a look to see if you’ll be eligible for a fourth stimulus check. You could be entitled up to $1,400, making it a great way to start 2022.