On Wednesday the IRS sent more than a million additional ‘plus-up’ payments.
Photo: Nataliya Vaitkevich / Pexels
The Internal Revenue Service (IRS) is distributing “additional” payments for what some people may get more money on their stimulus check. These payments can be triggered for a variety of reasons and are usually linked to your most recent tax return.
On Wednesday the IRS announced that it had made more than a million additional payments as part of the 25 million stimulus check payments that were distributed this week.
What are ‘plus-up’ checks?
These are complementary payments that have a different value and are used to make up for any previous underpayment. They are supplementary payments that are in progress for people who in early March received payments based on their 2019 tax returns, However, are eligible for a higher payment based on their 2020 tax return that are being processed. Plus-up payments could include a situation where a taxpayer’s income decreased in 2020 compared to 2019 or a person had a new baby or dependent on their 2020 tax return. This type of payment can be used to provide supplemental money in any of the three stimulus checks that have been distributed.
Related: 6 Uncommon Facts You Should Know About The Stimulus Check
Who can receive a ‘plus-up’ check?
If you faced a significant decrease in your income that caused your adjusted gross income (RBS) to drop below the income threshold, you should aspire to receive an additional payment. Also couples that declare jointly if your combined AGI fell below $ 160,000, the maximum threshold for the third stimulus check of $ 1,400.
Too you could get a check plus-up if your home grew during the pandemic. If you had a baby or adopted a child since you filed your taxes last year, they will have one more dependent to claim and your home. you could receive an additional payment of $ 1,400 for each new member.
“Taxpayers should automatically receive the additional amount,” Janet Holtzblatt, senior researcher at the Urban-Brookings Tax Policy Center, told the Cnet site.
You should not do any special process since the additional payment it should arrive automatically once the IRS has classified your tax return for the year.
You may be interested: