2022 Plus-Up Payment: What You Need to Know

The latest stimulus package, signed into law by President Biden, brings with it another round of relief checks and plus-up payments for eligible Americans. If you received money in the first two rounds of checks, you may be wondering if you're eligible for this new payment. Here's what you need to know.

Who Qualifies for Plus-Up Payments?

Two groups qualify for plus-up payments: People who did not receive the proper amount of money from earlier checks and those whose income is above a certain threshold. The amounts will phase out much faster than in previous coronavirus relief bills, so it's essential to review your eligibility and potential payment.

How Much Will You Receive?

For most Americans, this round of stimulus checks will be the largest yet, with $1,400 per individual going to those with income below a certain threshold. Households will receive an additional $1,400 for each dependent claimed on their most recent tax filings. The income eligibility limits are as follows: individuals earning less than $75,000, heads of household earning less than $112,500, and couples filing jointly earning less than $150,000.

How Will the Payment Be Calculated?

The payment will be based on your 2019 taxes if you haven't filed your 2020 taxes yet. If you have already filed your 2020 taxes, the check will likely be based on that income. You can use an online calculator to estimate how large a check you'll receive.

When Can I Expect My Payment?

The payment is being sent as direct deposits or mailed checks, depending on your preference. The exact timing of the payment may vary depending on your location and whether you're receiving a plus-up payment.

What's Different This Time Around?

This round of stimulus checks is part of the Biden administration's 'American Rescue Plan' and marks a significant increase in the per-person payment amount, from $1,200 to $1,400. Additionally, households will receive more money for each dependent claimed on their tax filings.

The 2022 plus-up payment is an important part of the latest stimulus package, providing relief to millions of Americans. If you're unsure about your eligibility or potential payment amount, be sure to review the details and use online resources to estimate how much you'll receive.

2022 plus up payment