Top Concerns & Frequently Asked Questions
This page provides answers to some of the most common questions on the Financial Resilience Center website.
FAQs: Economic Impact Payments, Unemployment Insurance, Accommodations & More
In 2021, the American Rescue Plan Act provided for a third round of stimulus payments of up to $1,400 per eligible individual or $2,800 for eligible married couples filing jointly. Direct deposit payments were first made beginning in March 2021 and were automatically deposited in the bank account utilized on your most recently filed tax return. If the IRS did not have an individual’s direct deposit information, the individual should have received payments via physical checks or Economic Impact Payment (EIP) debit cards.
To find the amount of Economic Impact Payments issued to you on record, you may create or visit your IRS Online Account.
Information on Economic Impact Payments (Stimulus Payments):
- Am I eligible for the third round of Economic Impact Payments?
- How do I check the status of my third Economic Impact Payment?
- How do I claim my first or second EIP if I did not receive those payments?
- What actions can I take if I do not receive the payment amount that I expected to receive?
Economic Impact Payments and benefits:
- Will the payments affect my eligibility for Federal programs, like SSI or SSDI?
- If my Social Security Administration (SSA) Representative Payee (RP) receives my Economic Impact Payment, are they required to turn over the entire amount to me?
- If I live in a nursing facility and Medicaid pays for the cost of my care and services, will the Economic Impact Payment affect my Medicaid eligibility?
2021 Advance Child Tax Credit
In July of 2021, many eligible families across the country began receiving advance payments related to changes made to the Child Tax Credit with the passing of the American Rescue Plan Act. The IRS distributed half the total Child Tax Credit amount in advance via monthly payments between the months of July and December 2021, unless eligible individuals/families opted out of receiving these payments in advance. The other half of the child tax credit will be claimed when you file your 2021 income tax return in 2022. These changes apply to tax year 2021 only.
Learn more about the Child Tax Credit and the Advance Child Tax Credit Payments.
Tax time is important for many people as it may be an opportunity to receive their largest payment of the year through their tax refund. It can also be confusing and stressful for many. Prepare in advance to help reduce your stress and get you ready to file your taxes..
When can I file my taxes and how long do I have?
This year’s Federal tax filing deadline was April 18, 2022. You may ask for an extension to file up to October 17. Remember: An extension to file is not an extension to pay the taxes you owe; penalties and interest will apply if you owe taxes.
How can I file my taxes for free or receive assistance filing my taxes at no cost?
There are multiple ways for you to file your taxes at no cost to you and your family if you meet eligibility requirements. Free filing services are generally available to low- to moderate-income (LMI) persons with disabilities, the elderly and limited English speakers. However, eligibility requirements do vary, so please confirm prior to preparing and filing your taxes. Learn more about where to file for free.
How can I get my tax return faster?
Direct Deposit is the safest and fastest way to receive a tax refund. Setting up direct deposit is not just quicker and more secure, it’s also a particularly good solution if you don’t have an address where you can reliably receive mail. If you do not have a bank or credit union account, you can explore account options that are safe, affordable, insured and can be opened remotely.
What You Need to Know about Student Loans in 2022
The pause on Federal Student Loan and Interest Payments has been extended to August 31, 2022 .
The White House and Department of Education recently announced an extension of the pause on student loan repayment, interest and collections through August 31, 2022. Our Student Loan page will help you prepare to make student loan payments and explain how you can discharge your student loans, if eligible.
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The Financial Resilience Center was developed by National Disability Institute with generous funding from the Wells Fargo Foundation.
