The American government gave several stimulus payments during the height of the pandemic to aid citizens in getting through the recession.
However, a lot of Americans either didn’t apply for or weren’t informed of the stimulus funds for which they were eligible for a variety of reasons.
The federal government issued last-minute reminders for citizens to obtain what they were entitled to in October 2022. However, the filing deadline was November 15. In some circumstances, it would still be possible to apply for state-sponsored stimulus funds.
Highest Stimulus Fund In 2022
There isn’t a set amount for how much stimulus funds you might have received in 2022 because it depends on your filing status, income, place of residence, and the number of dependents who qualified.
Joint filers in Maine, for instance, could have received $1,700 from their province, $2,800 from the federal govt, and $1,400 per eligible dependent, with no income restrictions in addition to $3,000 per entitled to benefits dependent from the extensive Child Tax Credit if their income was below the limits.
Although the third wave of stimulus payments was distributed in March 2021, many Americans didn’t claim them until the spring of 2022, when they submitted their tax returns. On November 14, the last window to receive such funds ended.
Single filers may have gotten $1,400 while filing jointly could have received $2,800 for those who could claim them. No cap on the additional $1,400 may have been given to those who had qualified dependents. However, eligibility depended on income.
Filing jointly had an AGI cap of $160,000, while single filers needed to have modified gross incomes of no more than $75,000.
Previous Stimulus Checks
In contrast, the first batch of direct payments, distributed in April 2020, provided up to $1,200 to individual taxpayers making up to $75,000 and joint filers making up to $150,000. Up to three dependents who qualify and are under 16 may receive up to $500 apiece.
The second batch of economic stimulus cheques, passed on December 27, 2020, and sent in January of the following year, gave eligible recipients $600 in addition to an additional $600 for children under 16.
Individuals are making under $75,000 received the total amount of this payment, with a phaseout beginning at an income level of $87,000, reports Go Banking Rates.
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