Wait for the IRS to process your 2020 income tax return that you filed. They will probably send you the $1,400, if you qualify, after your 2020 tax return is processed, which may be sometime in the summer. The IRS has a backlog of around 12 million tax returns.
If you don't get the $1,400 in 2021, you'll be able to claim a credit on your 2021 income tax return. like you did for the first and second stimulus payments, on your 2020 income tax return.
To be eligible for the third stimulus, you need to meet the following requirements:
- Families earning less than $150,000 a year and individuals earning less than $75,000 a year should get the full $1,400 per person.
- Families earning up to $160,000 per year and individuals earning up to $80,000 per year will receive prorated amounts.
- One notable difference from the first two stimulus is that you will receive stimulus payments for all your dependents, including adult dependents and college students.
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