This payment is associated with the Recovery Rebate Credit (RRC) on 2021 tax returns, which numerous eligible individuals may have missed or failed to claim.
The IRS confirmed in December that it plans to distribute around $2.4 billion in these stimulus payments, automatically crediting qualifying taxpayers based on their previously submitted returns.
However, individuals who have not yet filed their 2021 tax returns still have the opportunity to claim the payment, but they must act before the upcoming deadline.
Who Is Eligible for the IRS Stimulus Check?
As per the IRS and a report from USA Today, two primary groups of taxpayers may be eligible for this stimulus payment:
- Individuals who did not claim the Recovery Rebate Credit (RRC) on their 2021 tax return:
- Taxpayers who left the RRC section empty or entered $0 may still qualify for the stimulus payment.
- The IRS has examined tax filings and is issuing payments to those who qualify.
- Individuals who have not filed their 2021 tax returns may still be eligible for the stimulus check.
- They must file their returns by April 15, 2025, to receive both the stimulus payment and any potential refunds.
How to Check If You Claimed the Recovery Rebate Credit
Taxpayers who filed a 2021 tax return can confirm whether they claimed the Recovery Rebate Credit by examining their tax documents. If the credit was left blank or indicated as $0, they may be eligible for the IRS stimulus check. For those unsure, checking IRS transcripts or tax filing records can clarify whether the credit was included.
How to Claim the IRS Stimulus Check
For individuals who have already submitted their 2021 tax return, no further action is needed.
The IRS began issuing automatic payments in December, and eligible recipients will receive:
- A notification letter confirming the payment.
- A direct deposit if bank details are on record with the IRS.
- A paper check for those who haven’t set up direct deposit.
However, taxpayers who have not filed their 2021 tax returns must do so before April 15, 2025, to claim the Recovery Rebate Credit and receive their stimulus check.
How Much Can You Receive?
The maximum amount that qualifying taxpayers can receive under this stimulus program is $1,400 per individual.
However, the actual payment amount may vary based on income, filing status, and previously received stimulus payments.
FAQs
What is a stimulus check payment?
Stimulus checks are direct payments issued by the government to individuals during times of economic distress.
What is the purpose of tax stimulus?
A stimulus package aims to provide tax rebates and promote spending, which increases demand, enhances employment, raises income levels, and further stimulates economic growth.
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