Hundreds of millions of dollars of American Rescue Plan funding were distributed to U.S. residents suffering from the economic effects of the Coronavirus pandemic and $1,400 stimulus checks were given to eligible families, but what about those who just give birth to a new baby in 2021?
Stimulus Check Payments for Families With New Born Child
Families also received an additional $1,400 for each child in their household through the stimulus payments. In some cases, however, women who were expecting to give birth in 2021 did not receive their payments as their child was born during the American Rescue Plan distributions.
Therefore, it is likely that these families would have to wait longer to get their financial support from the federal government. Officials assured households in these groups that money from the stimulus would reach them.
In spite of the fact the Internal Revenue Service has no way to determine whether a family has recently given birth, households can let the agency know when they file their 2021 tax returns. It is imperative for families who normally don’t file returns to complete this procedure since it is their only way to access the funds.
In order to receive the initial $1,400 stimulus check, family members will have to meet the income thresholds. IRS officials also stated that dependents are eligible for the said payments without limitation.
IRS said that “single filers with incomes up to $75,000 and married joint filers with incomes up to $150,000,” reported Fox Baltimore News. After the given income thresholds, reduction of payments will be implemented.
This means that if you give birth to new twins, you will be getting $2,800 when you file your tax return for 2021.