Connect with us

Hi, what are you looking for?

Uncategorized

Stimulus Check 2022 Update: Does Inflation and Omicron Mean $1,400 Checks?

Stimulus Check
Image of US Currency. Image Credit: Creative Commons.

Stimulus Check Update: Who Will Land More Hard Cash in 2022? – Many financial experts and planners are already predicting that 2022 will surely be an expensive year for most Americans as the double whammy of the ongoing coronavirus pandemic and current red-hot high-inflationary environment will continue to squeeze pocketbooks over the next twelve months.

But during the struggles of last year, do know that Congress stepped in to approve the $1,400 stimulus checks via the American Rescue Plan and handed out much-needed enhanced child tax credits, which gave eligible parents a $250 or a $300 payment per child each month through the end of December.

A New Stimulus Check in 2022? Well, Sort Of

With this in mind, can cash-strapped Americans really expect to get their hands on even more government-issued direct payments? If one does a little digging, it appears that there are indeed several groups who will qualify for an extra financial boost in 2022.

On top of the list are those individuals who were qualified but missed out on the third stimulus check.

“There may have been other issues with receiving your third stimulus payment, like a glitch that caused a missing check or having the incorrect bank information on file,” notes personal finance writer Angelica Leicht at The Motley Fool.

“If you qualified for the third stimulus payment but did not receive it in 2021, you can claim it on your taxes this spring,” she adds.

Did You Miss the Child Tax Credit ‘Stimulus Check’? 

The same holds true for those who were eligible for the enhanced child tax credits but did not claim them.

“There were a significant number of families who should have qualified for the monthly Child Tax Credit payments did not receive them in 2021,” Leicht says. “In some cases, this was due to having non-filer status, which meant that there was a lack of information on file with the IRS. Without recent tax information on file, the IRS could not automatically determine the household’s eligibility for the Child Tax Credit, so no monthly payments were issued.”

Keep in mind that such households are now entitled to the monthly CTC payments and the second half of the tax credit money that amounts to $3,600 per qualifying child.

“This money can be claimed when filing taxes this tax season. So, if you’re a non-filer who missed out on your monthly tax credit payments, a significant payday could be headed your way when you file your taxes,” she continues.

Also, take note that if one gained a new member to the family last year—either by birth or adoption—they could also be eligible to claim another $1,400 stimulus check this year. The tax agency would not have had the information regarding the baby when sending out the stimulus payments, so parents can claim the funds on their upcoming tax return.

Ethen Kim Lieser is a Washington state-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.

Written By

Ethen Kim Lieser is a Washington state-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV.

8 Comments

8 Comments

  1. P.broerman

    January 14, 2022 at 8:23 am

    I FEEL THE GOVERNMENT IS FORGET ABOUT US SENIOR’S WHAT SHOULD WE BUY MEDS OR FOOD OR HEAT OUR APARTMENTS???

  2. Susan Tune

    January 14, 2022 at 9:17 am

    My rent, utilities and groceries had wiped out my my monthly SS increase in Nov. Even with the 5.9% increase I’m still 150+ behind making my monthly expenses. I’ve been skipping alot of medications because I have no money left for the remaing 3-4 weeks each month

  3. Lisa Horton

    January 14, 2022 at 11:28 am

    As a disabled senior who already struggled to make ends meet before the pandemic it’s harder now. I’ve had to alternate each month between all of my meds and eating after my bills are paid. I fell through the cracks. What about people like me that we don’t qualify for extra help?

  4. Michelle

    January 14, 2022 at 12:53 pm

    I’m on Social Security and have Epilepsy and Grandmal seizures even with the 5.9 increase we got is still making it hard on to survive I’m grateful for what I get but with groceries costing more utilities rising I’m stuck barely can afford to keep a roof over my head still cause of the cost of everything the poor get poorer and the rich get richer

  5. Jennifer Howard

    January 14, 2022 at 1:03 pm

    What about the people that dont have children or dependents and are struggling because I feel like we have been significantly overlooked. I have a child, but she is over 18, but I was significantly impacted by the pandemic & still playing catch up every month to the excess of having $0 by mid month. It has caused a huge amount of stress & now I am one of the vaccinated individuals battling Covid. I am just done with all of this and then to not be supported by the government is just another kick while we are down. I expected the second CA check & was in the last round of checks sent out, but nope, I do not qualify! Why you ask? What do you think? I dont have kids under 18. Take a good look at the amount of assistance people have received & then look at how much assistance adults or seniors with no kids in the home anymore have received. I think it should make sense to you at that point.
    Signed,
    Frustrated

  6. Brenda Starling

    January 15, 2022 at 2:45 am

    Why do they keep leaving out the elderly people that no one supports them, The children have parents that should support the children, elderly people need help now.

  7. Jen

    January 15, 2022 at 2:03 pm

    Maybe the health care workers that risk their lives everyday to keep the world healthy she get some of that free $$$$ to say thank you. There are others that haven’t benefited, which are the diasabled that only get SSI to live on. No one in this world cam live off of what the government gives these people.

  8. Carrie Peavy

    January 15, 2022 at 7:01 pm

    I received my 92.00 Social Security raise. And stil have very little food. Why are seniors being passed over? and while the rest of the people get foodstamps. And all we get is a 25.00 monthly allowance that I can’t spend because no one wants to accept it.What can 25.00 dollars do really with the cost of food these days. Help us survive too.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement