Fourth Stimulus Check Tracker: Who Eligible for $1400 New Payments in 2022? – Community News
Stimulus Check

Fourth Stimulus Check Tracker: Who Eligible for $1400 New Payments in 2022?

2021 will come to an end in less than two months. While a fourth stimulus check seems unlikely at this point, some Americans can look forward to the incoming 2022 utilities. One of these programs will credit $1,400 in payments to babies born before the end of the year.

By now, a few Americans may have regained their financial stability despite the pandemic. The development happened because of their resilience and adaptability to the circumstances. Another great incentive that helped them was the incentive check payments, which gave immediate financial relief from their expenses. It also helped others get their jobs back.

Due to its effectiveness, many Americans are desperate for a fourth stimulus check.

As the federal government has yet to approve a fourth stimulus check, Americans should try to look into other support programs, which can still run them several hundred dollars, depending on eligibility. One of these running programs can also be a little unexpected.

Fourth Stimulus Check Update: Infant Payments

Keep in mind that many of the COVID-19 aid programs are aimed at helping targeted groups of Americans. IRS often uses their income or employment status as indicators of the incentive payments. However, some Americans with unique circumstances may also benefit from COVID-19 relief funds. One of these groups is newborn babies.

Americans are currently struggling with everyday expenses as the average cost of living rises. This development is critical for babies, who have many expensive needs. Families can barely make a living for medicine, education and childcare. This makes an incentive benefit essential for parents with children.

Also read: Last Chance to Apply for Child Tax Credit Payments; Get $1800 lump sum in December

Fortunately, the third round of incentive checks worth $1,400 could be credited to babies born this year. However, their household must meet the income requirements, meaning they have an average gross income (AGI) of less than $75,000 for individuals and $150,000 for married couples.

If parents qualify, they can file their 2021 tax returns and receive the incentive money next year.

Also keep in mind that the same logic applies to the current payments of the Child Tax Credit. Any child born before the end of the year and declared dependent on 2021 tax returns can qualify for the $3,600 child tax credit.

A few tips to save incentive money

To get the most out of the stimulus money, Yahoo! Finance listed some tips for payment management.

  • Refinance costs. Using this strategy can take years of ongoing payment plans.
  • Consolidate current loans. Having a single loan for debt consolidation can help lower interest rates and make planning easier.
  • Use online tools and mobile apps to manage the accounts. These apps can also limit spending and search for the best purchases with lower costs.
  • Investing change from expenses. This article introduces three useful apps that can use change for an investment portfolio or for paying bills.

Related article: Fourth Stimulus Control Update: New Study Reveals Big Impact of Stimulus Payments, $2000 Petition Nearly Complete