According to a December announcement from the Internal Revenue Service (IRS), more than 1 million Americans did not claim the stimulus payment known as the Recovery Rebate Credit on their 2021 tax returns. The potential maximum payment for these taxpayers, part of the $2.4 billion that will be distributed, amounts to $1,400 per individual. The IRS commenced payments to eligible individuals who failed to apply on their 2021 return late last year.
How Americans Can Receive Their $1,400 Stimulus Payment if They Haven’t Filed Taxes Yet
Eligible taxpayers will receive a separate notice about their payment, which will be issued either by paper check or directly deposited. According to the IRS website, only those taxpayers identified as eligible for the credit in IRS records will receive the 2021 Recovery Rebate Credit payments. Taxpayers who filed a 2021 tax return but had either an empty field for the stimulus payment data or reported it as $0 while being entitled to the credit are considered qualified taxpayers.
If you file and claim this stimulus payment by the deadline of April 15, you may still qualify for a refund even if you haven’t yet submitted your 2021 tax return. Eligible taxpayers who did not file a return, regardless of having negligible or zero earned income or other sources, must submit a return to qualify for the Recovery Rebate Credit. The IRS generally allows you to request a refund or credit only within three years, so if you haven’t received this payment, your opportunity to claim it ends on April 15.
The Other Stimulus Payment New York Residents Can Claim
In New York State, there is ongoing discussion about whether Governor Kathy Hochul’s promised inflation relief check will indeed materialize in 2025. Initially, Hochul intended for residents to receive this payment in February, but later communicated through various media outlets that the payments would arrive in March. This change was attributed to budget negotiations and logistical challenges, raising doubts among New Yorkers about the governor’s commitment to following through on her statements.
Since taking office, Hochul has allocated over $5.5 billion in tax breaks, rebates, and additional payments. Her primary objective in the 2025 State of the State Report was to roll out this benefit, which promises a $500 payment to families earning less than $300,000 per year and a $300 payment for individual taxpayers making less than $150,000. The New York stimulus payments will utilize the state’s surplus sales tax revenue—resulting from inflation—to provide over $3 billion in direct payments to 8.6 million taxpayers statewide in 2025.
Additionally, Governor Hochul plans to reinvest the revenue generated from sales tax into middle-class families next year, initiating with the proposed inflation rebate checks of up to $500. This initiative addresses the high cost of living in New York as the state’s economy continues to face challenges. It is important to note that beneficiaries must have filed their tax returns on time to qualify for this stimulus payment. While the distribution is expected to begin in the fall of 2025, it has not yet commenced as of mid-March, pending State Legislature approval.
How Can Individuals Determine Their Eligibility for This Stimulus Payment?
This stimulus payment is accessible to you if you and your family are low- to middle-income, facing daily challenges to make ends meet during the crisis, have previously received state tax relief or payments, and reside in New York.
