Numerous Americans remain eligible to claim a stimulus check of up to $1,400, but the deadline is rapidly approaching.
The Internal Revenue Service recently reminded eligible individuals to submit their 2021 tax return by April 15 if they have not yet received the Recovery Rebate Credit.
This refundable credit is intended for those who missed the third and final round of stimulus checks issued during the Covid-19 pandemic as part of the American Rescue Plan Act of 2021.
The agency plans to send payments via paper checks automatically to qualifying individuals based on the banking information provided in their 2023 tax returns.
However, those who are eligible and do not file their 2021 tax returns by April 15—Tax Day 2025—risk losing out on the checks.
The exact amount depends on the adjusted gross income (AGI). Single filers can receive the full $1,400 if their AGI in 2021 was $75,000 or lower, but it begins to phase out at $80,000. The same income limits apply to dependents, irrespective of their age.
Couples filing jointly can receive the full amount of $2,800 if their combined income does not exceed $150,000, with the benefit phasing out at $160,000.
Typically, taxpayers have three years to file and claim their tax refunds, after which any unclaimed funds may revert to the U.S. Treasury.
The IRS has made it clear that there will be no extensions or automatic payments for those who miss the April 15, 2025 deadline.
Last-minute filers may encounter processing delays that could hinder their ability to claim the stimulus check in a timely manner, the agency has warned.
In January, about $2.4 billion was distributed to individuals who had filed their 2021 tax returns yet did not claim the Recovery Rebate Credit.
Roughly 1.1 million Americans have unclaimed refunds for the 2021 tax year, totaling over $1 billion, as announced by the IRS last week. These consist of taxpayers who failed to submit their Form 1040 for that year.
The IRS reported that the median refund amount for non-filers from 2021 stands at approximately $781, excluding the Recovery Rebate Credit.
