The Palm Springs International Film Festival has named another honoree for this year’s event. Meryl Streep, who stars in August: Osage County this year, will be honored at the festival with its Icon Award.

“We’re overjoyed to recognize Meryl Streep for yet another Oscar-worthy performance in August: Osage County,” said Festival Chairman Harold Matzner in a statement. “Meryl Streep’s portrayal of Violet Weston, the matriarch of a dysfunctional family reunited by a tragic incident, will be remembered in her long list of iconic character roles. The Palm Springs International Film Festival is honored to present the 2014 Icon Award to Meryl Streep.”

Streep is expected to be in the running for yet another Oscar nomination for August: Osage County. She already has three, one for her supporting role in 1979’s Kramer Vs. Kramer and Best Actress Oscars for 1982’s Sophie’s Choice and 2011’s The Iron Lady. She also holds the record for most Oscar nominations in the acting categories.

She has also secured a Golden Globe nomination for August: Osage County, as has her co-star, Julia Roberts. The film is based on the Pulitzer Play by Tracy Letts and directed by John Wells. It opens on Christmas Day.

The Palm Springs festival announces its honorees before the event begins, so it’s already known that Gravity’s Sandra Bullock, Saving Mr. Banks star Tom Hanks, 12 Years a Slave director Steve McQueen and the entire cast of American Hustle will be receiving awards.

This year’s festival runs from Jan. 3 to Jan. 13.

Streep’s upcoming films include The Giver from The Weinstein Company and the Disney musical Into The Woods.

image: The Weinstein Company