The Internal Revenue Service (IRS) has announced that some U.S. taxpayers could still receive a stimulus payment of up to $1,400. This is part of the Recovery Rebate Credit, available to those who did not claim it on their 2021 tax returns. If you think you might be eligible, here’s everything you need to know about qualifying and claiming your payment.
Why Is the IRS Sending Stimulus Checks Now?
In December, the IRS revealed that it would distribute approximately $2.4 billion in stimulus payments to eligible taxpayers. This decision followed a review of IRS records, which showed that many people who filed a 2021 tax return had not claimed the Recovery Rebate Credit.
The Recovery Rebate Credit is a refundable tax credit designed to provide financial relief to individuals who did not receive one or more Economic Impact Payments, commonly known as stimulus payments.
Who Qualifies for the $1,400 Stimulus Payment?
You may be eligible for the IRS stimulus check if:
You filed a 2021 tax return but did not claim the Recovery Rebate Credit.
You have not yet filed a 2021 tax return but do so before the deadline.
You were eligible for previous stimulus payments but did not receive them.
How to Check if You Claimed the Recovery Rebate Credit
To verify whether you claimed the Recovery Rebate Credit:
Look at your 2021 tax return.
Find the section for the Recovery Rebate Credit.
If the field is blank or shows $0, you may be eligible to claim the credit.
What If You Didn’t File a 2021 Tax Return?
If you have not yet filed your 2021 tax return, you still have time to claim your stimulus payment. However, you must file your return by April 15, 2025 to receive the credit and any other potential tax refunds you may be owed.
To file your return:
Visit the official IRS website.
Use Free File or other tax preparation services.
Consult a tax professional if you need assistance.
How to Claim Your Stimulus Payment
If you already filed a 2021 tax return and were eligible, you do not need to take any action. The IRS has been automatically sending payments since December 2023.
Eligible taxpayers will receive:
A notification letter from the IRS.
A direct deposit into their bank account or a paper check by mail.
If you have not yet filed your 2021 tax return, you must do so before April 15, 2025, and claim the Recovery Rebate Credit to receive your payment.
How Much Money Will You Receive?
According to the IRS, eligible taxpayers can receive up to $1,400 per individual. The exact amount depends on your tax situation and whether you qualify for the full credit.
Final Thoughts
If you think you might be eligible for the $1,400 stimulus check, take action as soon as possible. Review your 2021 tax return, check for the Recovery Rebate Credit, and file if necessary before the April 15, 2025 deadline.
For more information, visit the official IRS website or speak with a tax professional.
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