The deadline for some Americans to request a bonus check from the IRS is quickly approaching, closing at the end of the day on April 15.
In December, the Internal Revenue Service announced that approximately $2.4 billion in stimulus checks, amounting to as much as $1,400 per individual, would be allocated to eligible U.S. taxpayers who did not claim the Recovery Rebate Credit in their 2021 tax filings.
Earlier this year, payments were automatically distributed to qualifying individuals who submitted their 2021 tax returns. However, more than $1 billion in refunds remained unclaimed because many individuals had yet to file their 2021 returns, the agency reported on April 11.
The IRS previously determined that over 1 million eligible taxpayers neglected to claim the Recovery Rebate Credit, a refundable credit designed for individuals who did not receive one or more Economic Impact Payments, commonly known as stimulus checks, when they filed their 2022 returns.
Here’s what you need to know regarding the $1,400 payment and whether you might be eligible to claim it.
Individuals eligible for the Recovery Rebate Credit still have until April 15, 2025, to file their return and receive the payment. (This date also serves as the deadline for filing your 2024 tax returns.)
According to the IRS, 1.1 million people failed to file their 2021 tax returns and could potentially qualify for a payment of up to $1,400.
Eligible individuals must submit a tax return to claim the Recovery Rebate Credit, regardless of whether their income from employment, business, or other sources was minimal or nonexistent.
The Recovery Rebate Credit was established to assist individuals who did not receive one or more stimulus checks during the COVID-19 pandemic.
The IRS had previously issued three rounds of stimulus payments throughout the COVID-19 pandemic. Thus, most eligible individuals have already received such payments and will not qualify for the RRC.
Those who received less than the total amount of the third stimulus check, distributed in March 2021, may qualify for the Recovery Rebate Credit on their 2021 return. The agency has previously advised taxpayers not to include information about the first two checks sent in 2020 or the 2020 Recovery Rebate Credit when filling out their 2021 tax returns.
The IRS is distributing a special batch of payments to those eligible for the Recovery Rebate Credit but who did not claim it on their 2021 tax return or failed to file taxes for 2021. Filers must submit their 2021 returns by April 15, 2025, to be considered for this payment.
