Although the majority of Americans have received their COVID-related stimulus checks, some individuals who didn’t receive theirs might still be eligible for up to $1,400 in unpaid amounts, but they need to act before the impending deadline.
The Recovery Rebate Credit, as outlined by the Internal Revenue Service (IRS), is accessible for those who did not receive a stimulus check in 2021. The IRS has actively issued payments to numerous eligible recipients, but some might still need to file their 2021 tax returns to access their funds.
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Eligibility Requirements:
To qualify for this final round of stimulus payments, individuals must satisfy the following criteria:
- They did not receive a stimulus check in 2021.
- They did not file a tax return for 2021.
The IRS notes that taxpayers who missed a stimulus check but did submit a 2021 tax return should have automatically received their payments by January 2025. Approximately 1 million such taxpayers were identified, and payments were sent via mail or direct deposit, as announced by IRS Commissioner Danny Werfel in December.
However, individuals who did not file a 2021 tax return, even if not legally required, must now submit one to claim the Recovery Rebate Credit.
Individuals who were claimed as dependents in 2021, were not U.S. residents, or lacked a valid Social Security Number do not qualify for this credit.
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The IRS has established a strict three-year deadline, referred to as the Refund Statute Expiration Date, for filing overdue returns and claiming unpaid credits. As most taxpayers filed their 2021 returns by April 2022, the last chance to claim the Recovery Rebate Credit is next week.
The IRS clarifies that individuals who did not receive a stimulus check issued before 2021 can no longer claim those payments, as the filing deadline for 2020 has already expired.
The maximum payment for each eligible taxpayer is $1,400. The IRS utilizes several factors to determine the specific amount each individual will receive.
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