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Wednesday, September 28, 2022

Stimulus Check: Recovery Rebate Updates

Stimulus Check money does not seem to be coming any sooner. The $1,200 tax rebate that was supposed to arrive in the mail a few months ago was never received. But don’t worry: you can still file for the money! Here’s what you need to know about getting your stimulus payment and when it will be processed.

If you haven’t received a stimulus check yet, there’s not much to do. But if you did receive one but haven’t cashed it in yet, don’t worry! You can still claim your missing payment on your taxes this year.

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The IRS will send out an updated W-2 form when they release the second round of stimulus checks to taxpayers. When that happens–and as long as it’s in time for you to file–it will be easy to claim the amount on your tax return this year.

Tax refunds take up to 3 weeks to process, but if you file early, you’ll get your refund faster.

The IRS says it will begin processing tax returns on January 27th and will assign each return a processing date based on when it’s received. If you file early, your refund should be processed quickly as long as all of the information is correct and complete.

Stimulus Check Latest Updates

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When you file your taxes this year, you’ll be able to claim the Recovery Rebate Credit (RRC). Here’s how:

  • File your taxes as soon as possible. The RRC was only available for 2009 and 2010, so if you didn’t file your taxes back then, you’re out of luck.
  • File online. If at all possible, use one of the IRS’ free e-file options—the agency’s website allows users to complete and submit their returns electronically without having to download any software or pay any fees up front. If that isn’t feasible for some reason (e.g., if there are extenuating circumstances preventing timely electronic filing), then consider using tax software instead of hiring an accountant or professional tax preparer; it tends not to cost much more than doing it yourself but gets the job done faster and is easier on both parties involved in the process since they won’t have to meet face-to-face first before they can get started with filling out paperwork together!

However, before you file for your rebate, you may want to check the status of your claim. The IRS requires taxpayers who file their taxes electronically to submit additional identifying information when claiming a refund. This can be done through their online application or by calling the IRS at 800-829-1040 (or TTY 800-829-4059).

Remember, the recovery rebate credit is available only to those who filed their taxes and received a stimulus check in 2009 or 2010. If you didn’t receive one, it’s too late! But don’t worry—you can still get the money by filing your 2020 tax return. Just make sure that you file electronically so that the IRS can process your claim quickly and accurately.

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