President Biden signed the American Rescue Plan, which was meant to help Americans deal with an economy devastated by COVID-19. It was meant to help them get back on their feet. One part of the scam was depositing $1,400 checks into the accounts of most people in the United States.
Many people were stressed out in 2021, and a third stimulation check was the last thing on their minds. In the words of the IRS, everyone who died in 2021 without getting a $1,400 stimulus payment is still owed one.
A claim for stimulus funds can be made by their estate if they died between January 1 and December 31 of 2021, and their estate can do so.
Who’s to Blame?
The person who is filing the decedent’s tax return will also ask for any stimulus money that hasn’t been paid. All of the following must be true for them to get paid:
- An American citizen or a person who has lived in the country for many years died.
- There was no way to claim the dead as a dependent on someone else’s tax return.
- Social Security number: There was a number on the body of the person who died.
To get the full $1,400, the person must be able to show that they have the following income:
All of the money you get from filing status goes away.
Up to $$75,000 and $80,000
- Head of household
Up to $$112,500 and $120,000
- Joint filers
Up to $$150,000 and $160,000
- Widows and widowers
Up to $$150,000 and $160,000
If a person owes taxes in 2021, the Recovery Rebate Credit will help them pay less of the money they have to pay. To make sure that the payment is made on time, the person will get their tax return and get the money in their bank account as soon as possible.
- IRS Tax Refund Deposit Dates 2022: When Is the IRS Sending Refunds?
- Stimulus Update: In 2022, the IRS Will Give an Additional $5,000 to the Following Taxpayers.
- Who Will Get $1,657 Cola Social Security Checks by the End of January in 2022?
What Does the Money Do?
When a person dies, any stimulus payments that have been recouped are added to any money that the person still has. In this case, stimulus funds should be added to the money they already have in investments and bank accounts. In either case, if there is money left over, it must be split up according to the will or the court’s rules.
Make Sure That Your Loved One Got the Money They Owed You
Some ways to find out: If the person who died gave you their internet passwords and had an IRS online account, the first thing that can be done is to look into it. If this is the case, you can check to see if (and when) money was sent.
If you don’t have access to their online IRS account but can access their most used bank account, check the ledger for a $1,400 deposit from last spring. If it was deposited right away, there will be a “IRS TREAS” note in the description.
It’s hard to lose someone you love, especially when you have a lot of small tasks that remind you of them all the time.
Take advantage of this time to get money that your loved one is owed as tax season nears.