Another 2.2 million stimulus checks just went out --- and it’s a great reminder to file your taxes
The Internal Revenue Service recently churned out another 2.2 million stimulus checks — and it’s a great reminder that it’s critical for people to submit a tax return even if they usually don’t make enough money to file one.
The IRS has been distributing the $1,400 checks since March and just over half of the latest batch is going to people who previously had not filed a tax return but recently did, according to a Treasury Department announcement.
Those recent filers include people who don’t make enough money to owe taxes. Typically, if someone is single and under age 65, they’re only required to file a 2020 federal tax return if they made more than $12,400. For married couples filing jointly who are under age 65, they have to file a 2020 return if they made over $24,800.
But taxpayers can still file a return even if their income is under those limits. When they submit a tax return, they’re getting on the IRS’ radar screen and that gives the tax agency the information it needs to send along stimulus …
More on: www.marketwatch.com