Millions of Americans who have not yet received their federal stimulus checks will soon be receiving letters from the Internal Revenue Service (IRS) as the agency works to sort out eligibility and other issues. The IRS has a short-term deadline to cut stimulus checks because the CARES Act stipulates that payments must be issued by Dec. 31, 2022.
It is unclear what would happen if the IRS cannot meet this deadline. In addition to those who still have not received payments, some Americans have received smaller stimulus payments than expected, which can be frustrating for recipients counting on the full amount.
The IRS has not yet sent out separate letters explaining why some individuals received smaller checks; however, it may do so in early 2023 when all eligible taxpayers receive informational letters about their refunds or credits due them under the American Recovery and Reinvestment Act (ARRA). If you’re eligible for a recovery rebate credit but did not receive one yet—or if you need additional information regarding how to claim it—check your mail next week!
Stimulus Check Sent In By IRS
The IRS is sending letters to nearly 7 million Americans who may not have received the full amount of their federal stimulus checks.
The letters will explain why some people received smaller payments than expected, and they will also contain instructions on how to get the balance of your payment if you are eligible. The deadline for getting your payment is December 31, 2022.
If you’re eligible for the recovery rebate credit, you’ll get a letter from the IRS about it in January 2023. Here’s what you need to know about that credit and how to claim it if you need it:
You can apply for this credit by filing an amended return within three years after the due date of your original tax return (including extensions). If you’re eligible for an overpayment refund, which typically happens when your withholding or estimated payments exceed your actual taxes owed for a given year, then submit Form 1040X with Form 843 and include copies of all required documentation as listed on the form instructions.
If there are certain circumstances where applying these credits would not make sense — such as if applying part of your stimulus payment results in owing money rather than getting an overpayment refund — then ask that they apply those funds toward paying off past-due balances first before issuing any refunds or rebates.
