Fourth Stimulus Check Update: Here’s Who Will Get Some Funds This Year

A blanket stimulus check is not happening in 2022, or at the very least, has slim chances of happening, but a few people will still benefit from 2021 programs and be able to collect some funds this year.

While funds that were supposed to come in 2022 initially had hopefully included another year of Expanded Child Tax Credit payments, those have been suspended, at least for now, pending if the Senate can eventually pass President Biden’s Build Back Better plan. While a new round of those payments isn’t coming, some money will still come to parents through the previous legislation.

Those who qualified for the Tax Credits in 2021 but did not receive them because they hadn’t filed a tax return or for some other reason are now owed both portions of the credit, which is a maximum of $3,600 per qualifying child. Depending on how many eligible children those qualified residents have, they could be seeing a massive amount of money coming their way from the Internal Revenue Service.

In addition, those who did receive the first half of the payments will receive the second half when they file their 2021 taxes this year—which would equal $1,800 per qualifying child. Unlike the earlier credits, which came in the form of monthly installments, this would come as a lump sum as part of a tax return.

Parents who had a new baby or adopted one in 2021 can also qualify for extra cash—and not just because of the child tax credit. A child who was born in 2021 is also eligible to qualify for the $1,400 third stimulus check that was handed out in March 2021 as part of the American Rescue Plan. As such, parents who qualify can claim that and the tax credit—a grand total of $5,000 for their child—in 2022.

Others who missed out on the third stimulus check can also claim the payment in 2022 as well, according to The Motley Fool. In addition, plus-up payments are available for those who had a significant drop in their income from 2020 to 2021. Those payments are an option in that scenario since stimulus checks were given out based on tax information from 2020 returns—and a decrease in income since could allow for more money to make up the difference.

However, despite overwhelming popular support, the potential of another blanket stimulus check remains unlikely.