Over a million Americans are still eligible to receive a stimulus check of up to $1,400, but the deadline is quickly approaching.
The Internal Revenue Service has issued a reminder for those qualified to submit their 2021 tax return within the next four weeks (27 days) if they haven’t received the Recovery Rebate Credit.
This refundable credit is available to individuals who missed the third and final round of stimulus payments during the COVID-19 pandemic under the American Rescue Plan Act of 2021.
The agency plans to automatically distribute payments via paper check to those eligible, based on the banking information included in their 2023 tax returns.
However, individuals who qualify must ensure they file their 2021 tax returns by April 15, 2025 – Tax Day 2025 – or they may lose their checks.
The specific payment amount is determined by adjusted gross income. For single filers, the full $1,400 is available if the AGI for 2021 is $75,000 or lower, gradually phasing out at an income of $80,000. This also includes dependents, regardless of age.
Married couples filing jointly can receive the full $2,800 if their combined income does not exceed $150,000, with a phase-out beginning at $160,000.
Generally, taxpayers have three years to file and claim their tax refunds, and failing to do so within this window could result in the funds being absorbed by the U.S. Treasury.
The IRS has stated that there will be no extensions or automatic payments for those who miss the April 15, 2025 deadline.
Individuals filing at the last minute may experience processing delays that could hinder their ability to claim the stimulus check in time, cautioned the agency.
In January, about $2.4 billion was paid out to individuals who had not claimed the Recovery Rebate Credit but had submitted their 2021 tax returns, according to the agency.
Approximately 1.1 million Americans are identified as having unclaimed refunds for the 2021 tax year, totaling over $1 billion, as reported by the IRS last week. These individuals had not filed their Form 1040 for that year.
As per the agency, the median refund amount for non-filers from 2021 is around $781, not including the Recovery Rebate Credit.
