Many Americans are still in a position to claim a stimulus check of up to $1,400, but the deadline is approaching quickly.
Last month, the Internal Revenue Service reminded eligible individuals to submit their 2021 tax return by April 15 if they have not received the Recovery Rebate Credit.
This refundable credit is for those who missed out on the third and final round of stimulus checks during the Covid-19 pandemic, as part of the American Rescue Plan Act of 2021.
The agency will likely process automatic payments via paper checks for qualified individuals, using the banking details provided on their 2023 tax returns.
However, those eligible who do not file their 2021 tax returns by April 15—Tax Day 2025—risk losing their checks.
The amount a taxpayer can receive depends on their adjusted gross income. Single filers can receive the full $1,400 if their AGI in 2021 was $75,000 or less, with the amount phasing out at $80,000. This also applies to dependents, regardless of their age.
Couples filing jointly would be entitled to the full $2,800 if their combined income is $150,000 or less, with the amount phasing out at a combined income of $160,000.
Taxpayers generally have a three-year window to file and claim their tax refunds, and failing to do so during that period could mean the funds are forfeited to the U.S. Treasury.
The IRS has indicated that there will be no extensions or automatic payments for those who do not meet the April 15, 2025 deadline.
Last-minute filers might experience delays in processing that could hinder their ability to claim the stimulus check promptly, according to the agency.
In January, about $2.4 billion was distributed to individuals who had not claimed the Recovery Rebate Credit but had submitted their 2021 tax returns, the agency reported.
Roughly 1.1 million Americans have not claimed their refunds for the tax year 2021, totaling over $1 billion, as announced by the IRS last week. These individuals have not completed their Form 1040 for that tax year.
According to the IRS, the median refund amount for those who have not filed their 2021 tax return is around $781, excluding the Recovery Rebate Credit.
