CNS News– While there haven’t been any stimulus checks in a few years and probably won’t be any shortly, that doesn’t mean that Uncle Sam isn’t still sending checks to people who are having trouble paying their bills. Millions of Americans have been getting checks from the government this week for up to $7,430.
This is all because of the Earned Income Tax Credit, which gives cash to families and people with low to moderate incomes. It’s a tax refund, and the IRS started sending them out on Tuesday. You can still get the check even if you don’t owe any taxes. It depends on how much money you make and how many kids you have. The IRS says that about one in five eligible taxpayers don’t claim it.
A lot of people don’t even know about it. People who don’t have kids and make less than $17,640 a year or $24,210 a year can get up to $600. Families with one child can get up to $3,995 if their income is less than $46,560 for an individual or $53,120 for a joint. Families with two children can get up to $6,604 if their income is less than $52,918 for an individual or $59,478 for a joint.
‘Stimulus Checks’ Of Up To $7,430 Going Out To Millions Of Americans https://t.co/jA3F2bquna
— NEWSRADIO 1040 WHO (@WHORadio) February 29, 2024
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Families with three or more children can get up to $7,430 if their income is less than $56,838 for an individual or $63,398 for a joint. You must be a U.S. citizen with a valid Social Security number who isn’t filing Form 2555 to report foreign income and has less than $11,000 in investment income to get the check.
You’ll also need to fill out Form 1040 or 1040-SR and, if you have kids, Form Schedule EIC. This IRS website tool can help you figure out if you’re eligible. The only catch is that if you file for the Earned Income Tax Credit this year, you won’t get your full tax refund until February. If you filed for it last year, though, you should get it soon.