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Wednesday, August 10, 2022

Stimulus Check: How To Get Your Missing Payments?

The Internal Revenue Service (IRS) has announced that tax season will begin on Monday, January 24, offering Americans the chance to file their tax returns for the year 2021. Following a year of increased stimulus checks and, for many, the expansion of the Child Tax Credit, the group advises that people begin as soon as possible to minimize delays with refunds and tax credits. Outside of an extension, the deadline for submitting your forms is April 19.

Stimulus Checks Need To Be Filed For During Taxes

If they missed out on the first stimulus check in March 2021, certain persons may be eligible for a third stimulus check in the form of the Recovery Rebate Credit.

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To make filing as simple as possible, the IRS will send you various letters and paperwork informing you of what you owe and how much money you may be entitled to receive.

Since late December, one document, Letter 6419, has been sent out. The letter offers crucial information that can assist in ensuring the accuracy of the advanced Child Tax Credit return for 2021.

To get the second half of the Child Tax Credit, eligible taxpayers who got advance payments must file a 2021 tax return. Anyone who is entitled to the Child Tax Benefit but did not receive advance payments can claim the entire credit by completing a tax return, ensuring that no one is left out.

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Individuals who got the third stimulus check back in 2021 will get Letter 6475. Individuals will receive this letter if they are entitled to the Recovery Rebate Credit, which is essentially the third stimulus check but missed it the first time around. If that’s the case, they’ll need to file a 2021 tax return to get the remaining stimulus funds. By the end of January, this is scheduled to be in mailboxes. Families who received child tax credit payments last year will also get a second letter.

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