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News

Here's Who Will Be Eligible For $5,000 Stimulus Checks

Here's who will be eligible for $5,000 stimulus checks.
Here's who will be eligible for $5,000 stimulus checks. Photo Credit: U.S. Treasury Department

It is unlikely that the federal government will distribute a fresh round of stimulus checks to most Americans again, but some will qualify for some financial assistance in 2022.

During the COVID-19 pandemic, eligible Americans received as many as three stimulus checks to help them ride out the pandemic, though a fourth is unlikely, outside of a specific group.

Parents who gave birth to a child in 2021 will be eligible for a 2022 stimulus check of up to $1,400, similar to the third round that was issued in March last year.

Eligible new parents who inform the IRS they had a baby — or babies — when they file their 2021 taxes will still receive a stimulus check for those children.

An expanded Child Tax Credit worth $3,600 per child for children under the age of 6 and $3,000 for children ages between 6 and 17 years old are also being made available through the American Rescue Plan Act.

Anyone who added an older dependent through adoption is also eligible for the $1,400 check and expanded Child Tax Credit.

Babies born in 2021 count as a dependent both for purposes of the stimulus check as well as for purposes of the Child Tax Credit; however, the IRS wouldn't have known about this child yet when it was sending out the original payments.

Single parents earning up to $75,000 per year and couples making up to $150,000 per year are eligible to receive the full amount of the check.

To claim the stimulus money, eligible Americans simply must file a 2021 tax return, with the IRS expected to begin accepting them at the end of January or beginning of February.

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