The Biden administration has announced a new stimulus checks batch worth $1400 to be distributed; bringing the total amount to $391 billion. The checks will be sent under the American Rescue Plan Act which was proposed by President Joe Biden as soon as he took oath as the President of America.
The new stimulus checks will be issued to the taxpayers as were the precedent checks; as additional money to help them cope up with the damages caused by a pandemic coronavirus.
This new round of checks will also be directed to the Americans who do not have filed taxes but claimed the stimulus checks.
The new stimulus money will be approximately more than 900,000 payments which will be distributed to the people who have not received stimulus checks in the past but have their tax returns processed recently.
The legislation of this particular stimulus payments round was passed in March.
A total of approximately $807 billion have been processed and delivered to the Americans through the first, second, and third round of stimulus checks according to the Commissioner Charles Rettig of IRS.
This round will deal with the Americans who have not received the checks yet although they do qualify. The IRS repeatedly issued another guidance especially directed towards the homeless citizens of America; to apply for the stimulus checks and receive money. The IRS broadened its circle of stimulus payments to the child tax credit even if no permanent address or bank account was provided by the filer.
As directed by the Biden administration, the IRS is working hard to facilitate 100% of the population of America but it is getting increasingly difficult and people do not follow the instructions or are too lazy to fill out details to receive the stimulus payment.
The IRS is encouraging people to file a return to receive their outstanding stimulus checks. It even announced that people will not be charged any additional penalty for late filing.
IRS has announced that while filing a return, any missed out stimulus check payment can be claimed and it will be given to the filer; within this year. The deadline to collect the missing payment is October 15th as per the extended date of federal tax filing.
People are encouraged to file before the 15th October deadline. The IRS has not released what will be the process of missing an amount if someone fails to register by the given deadline. It is advisable to file for federal tax as the government will pay you stimulus amount, as well as the states, are also paying the individuals’ stimulus money separately; so you will become liable to receive that also.
According to a recent report, at least 8 million Americans have outstanding stimulus checks due to non-filing of the return.
This new round is solely dedicated to those individuals who have been lazy or late to get their taxation registered with the federal system. They can demand the missing stimulus check money along with their new stimulus checks.