As the deadline quickly approaches, millions of eligible Americans have a crucial chance to claim the $1,400 stimulus payment they may have overlooked in 2021. With only one week remaining, individuals who have not yet submitted their 2021 tax returns need to act swiftly to obtain the Recovery Rebate Credit before the cutoff date on April 15, 2025, according to Newsweek.
Also read: Didn’t file a 2021 tax return? You might still qualify for the $1400 IRS stimulus check—Here’s how
Who is eligible?
The IRS distributed third-round Economic Impact Payments (EIPs) in 2021, but not all Americans received them. For those who missed out, the IRS established the Recovery Rebate Credit, which enables individuals to claim the $1,400 stimulus if they fulfill certain eligibility criteria, as indicated by CNBC.
The eligibility criteria are as follows:
*Single filers with an adjusted gross income (AGI) of $75,000 or less qualify for the entire $1,400 payment.
*Married couples filing jointly with an AGI of $150,000 or less can also claim the full amount.
*Payments decrease or are phased out completely for those with higher incomes. The phase-out for single filers begins at an AGI of $80,000, while for joint filers, it starts at $160,000.
*Dependents can also be included, with payments available for anyone not already claimed on someone else’s return. This includes older dependents like college students or elderly relatives.
How to claim your Stimulus Check?
If you haven’t received your $1,400 payment, you can still claim it by submitting your 2021 tax return. The IRS is offering the Recovery Rebate Credit to eligible individuals who missed the first round of stimulus payments.
To claim the credit:
*Submit your 2021 tax return by the deadline, April 15, 2025, utilizing the IRS Free File program if you have a straightforward tax situation.
*If you already filed but didn’t receive the payment, you might need to amend your return to ensure the credit is applied.
Also read: Where is my IRS amended return? Here’s how to track its status
*For those who did not file taxes in 2021, you can still claim the credit. The IRS encourages non-filers to file their returns to obtain the payment.
What happens if you miss the deadline?
Failing to submit your tax return by April 15 means losing the $1,400 stimulus check. Unlike other government benefits, the Recovery Rebate Credit is not accessible after the filing deadline, so if you don’t file in time, the opportunity to claim the payment will be lost forever, as reported by The U.S. Sun.
The IRS will not provide extensions for claiming this credit. Consequently, it is vital for all eligible individuals to act before the cutoff date to receive the payment.
Even if you had little or no income in 2021, filing a tax return could still be advantageous. Aside from the $1,400 stimulus, you might qualify for additional credits, such as the Child Tax Credit (CTC) or the Earned Income Tax Credit (EITC), which could lead to a tax refund.
If you did not receive any of the stimulus payments, filing your return will guarantee that the Recovery Rebate Credit is applied to your refund.
Scams
As the deadline approaches, it is essential to stay alert against scams. The IRS will never contact you via phone, text, or email to request personal information regarding your stimulus payment. Be cautious of unsolicited messages urging you to claim your payment.
How to file your return?
You can file your 2021 tax return online through the IRS Free File program or via tax professionals. If you prefer to mail your return, send the completed Form 1040 to the appropriate IRS address.
For assistance, the IRS offers resources such as Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE). You can also call 1-800-906-9887 for help locating a site near you.
The clock is ticking, and with just one week remaining, it’s critical for eligible Americans to file their 2021 tax return and claim the $1,400 stimulus check before the April 15 deadline. Don’t miss out on this chance for essential financial support—file now and ensure you receive what you’re entitled to.
Also read: The April 15 IRS tax deadline looms: 5 significant changes that could affect your refund
Stay alert and ensure you complete all necessary steps to avoid losing out on your payment.
