Once it processes the return, you will receive the full amount of the plus-up payment. The IRS advises you file a 2020 tax return with your spouse and dependent listed. This is because the threshold has now changed for you as well. Important to note: If you filed your 2019 return as you normally would but did not add your spouse or any dependents, then you are also eligible to receive a plus-up payment. Have your refund money up to 5 days sooner Go to disclaimer for more details. Plus-up payments are sent separately from your 2020 tax refund and other stimulus payments, meaning you can receive it at a different time, and it might come in the form of a check even if you received your stimulus via direct deposit or debit card. See: Missed the Tax Deadline? Here’s What to Doįind: Two New Stimulus Checks May Be on the Way – Here’s Everything You Need to Know These are taxpayers or households who either did not qualify for a third stimulus check based on their 2019 income or got less than they were due. You do not need to take any further action to receive a plus-up payment if you are eligible, other than making sure both your 20 returns are filed. The plus-up payments will continue on a weekly basis going forward, the IRS said, as the agency continues processing tax returns from 20. The IRS will automatically evaluate your eligibility once your 2020 tax return is processed. Your plus-up payment will make up the difference between the amount you received based on your 2019 return and the amount you’re eligible to receive based on your 2020 return. See: More Stimulus Money May Be Coming Your Way – Here’s What to Do With Itįind: 70% of Stimulus Cash Is Stuck in Checking Accounts – What’s the Smartest Thing to Do With Yours?įor example, if your 2019 income was above the threshold for the full stimulus payment but your 2020 income was less than the threshold amount, you received a smaller payment than you were entitled to if it was based on your 2019 return. Railroad Retirement Board or Veterans Affairs and might be eligible for a larger payment based on their 2020 tax return. Plus-up payments are an extra stimulus payment sent out to those who received a stimulus check based on a 2019 tax return or information received from the Social Security Administration, U.S.
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