Although several years have passed since the last round of stimulus checks in the United States, some taxpayers can still receive a payment of up to $1,400. This is possible thanks to the review of internal data by the Internal Revenue Service (IRS), which detected that many eligible people did not claim the Recovery Rebate Credit on their 2021 tax return. Because of this, in December the distribution of 2.4 billion dollars in checks was announced for those who did not take advantage of this benefit at the time.
To get this payment, taxpayers must meet certain requirements. Those who filed their tax returns in 2021 but did not claim the credit will be paid automatically by the IRS.On the other hand, individuals who have not to file their taxes for that year have until April 15, 2025, to do so and get their money back. Many people find this stimulus to be quite helpful, particularly during difficult economic times, therefore it’s critical to determine your eligibility.
The IRS has established a simple process for verifying eligibility and claiming this payment. The best way to find out if the credit was received is to review the 2021 tax return and verify if the Recovery Rebate Credit field was left blank or recorded with a value of 0. If eligible, the IRS will automatically send the money to eligible recipients.
Who can receive the IRS stimulus check?
This stimulus payment is aimed at taxpayers who, for whatever reason, did not claim the Recovery Rebate Credit on their 2021 return. While many Americans have already received their payments, the IRS has identified a significant number of people who did not apply and therefore still have the opportunity to receive up to $1,400.
In addition, those who did not file their 2021 tax return may be eligible if they file by April 15, 2025. This will not only allow them to receive the stimulus check, but also any other refunds they are entitled to. It is critical that taxpayers review their situation and take action as soon as possible so as not to miss this financial opportunity.
How can this payment be claimed?
For those who have already filed their 2021 tax return but have not claimed the Recovery Rebate Credit, no further action is necessary. The IRS began sending payments automatically in December, and taxpayers will get notification of the deposit or check issued.
On the other hand, those who have not filed in 2021 should file their return by April 15, 2025 and be sure to include the corresponding credit. This can be done through a tax professional or by using free filing tools offered by the IRS. Once the return is filed, if the taxpayer meets the requirements, they will receive payment by direct deposit or paper check, depending on the information on file with the IRS.
Given that this stimulus check is still available, it is important that taxpayers review their situation and make sure they claim it if they are entitled to it. With a relatively simple process and a long deadline for filing the return, there is still time to take advantage of this financial opportunity.
