If you missed out on your stimulus money while the pandemic was hitting hard, you can still get it. The US Internal Revenue Service (IRS) will pay those who failed to claim the Recovery Rebate Credit on their 2021 tax returns automatically.
You may check if you qualify for it via these all-important eligibility, payment, and deadline guides
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Eligibility
Recovery Rebate Credit is the same for all who were entitled to stimulus payment and did not get one. However, it does not apply to everyone. If you’re not sure of your eligibility, check the following criteria.
Victims were entitled to a stimulus payment for the year 2021 as follows:
- You must not have filed for the Recovery Rebate Credit on your 2021 return or left that entry blank or entered “$0”.
- You have not received one or more of the Economic Impact Payments issued during the pandemic.
- If you had claimed it before and received your stimulus payment, then you will not be receiving this payment.
If all of these are true, the IRS will put your payment in the mail automatically.
Payment Amount
Each eligible person could receive a maximum payment of up to $1,400 under this stimulus payment. In case you have not received the entire Economic Impact Payment earlier, the rebate can offer some compensation.
How to Claim
The best part of this whole process is that there’s not even a separate application process! This amount is automatically issued to those taxpayers who qualify by the IRS.
How does this process work?
Notification of IRS, if you qualify for it, then the IRS gives you a letter of how to follow up this payment.
Method of Payment – The IRS will deposit your money directly into your bank account (if you provided bank details earlier) or send you a paper check (if there is no direct deposit information).
If this process gets completed by the IRS, you don’t need to reapply.
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Tax Return Requirement
Even if you haven’t filed a 2021 tax return, it will be open to you if you start to file one now. Just that, to not miss this benefit, have your tax return done before the deadline.
Important Deadline
To get that missed stimulus payment, you’ll want to plan on filing your 2021 tax return before… NOT AFTER … April 15, 2025. Miss that date and you miss out on getting that rebate.
How to Check Payment Status
Want to see if you get the payment? You can know whether you will get it by taking the following actions:
- Use the “Get My Payment” tool on the official website of the IRS.
- Examine your 2021 tax transcript and watch if any refund is forthcoming.
For any questions, you can consult that tax professional to guide you better.
Conclusion
This is the second chance provided by the IRS to people who have missed their stimulus payment. Check your bank account as well as the mailbox frequently to ensure you will be receiving this amount.
If you haven’t filed your 2021 tax return yet, complete it before April 15, 2025, so you can receive this important financial assistance. This could be a golden opportunity for you, so don’t miss this chance!
FAQs
Q. 1. What is the IRS $1,400 Stimulus Payment?
A. The IRS $1,400 stimulus payment, also known as the Economic Impact Payment (EIP), is a financial relief provided to eligible individuals and families in the United States. It was part of the American Rescue Plan Act to help citizens during the economic downturn caused by the COVID-19 pandemic.
Q. 2. How much will I receive from the IRS stimulus check?
A. The maximum amount is $1,400 per individual. Families can receive additional $1,400 payments for each eligible dependent, including adult dependents such as college students and elderly parents.
Q. 3. Can I get the $1,400 payment if I was claimed as a dependent?
A. No. If someone else claimed you as a dependent on their tax return, you do not qualify for the payment, even if you are an adult. However, the person claiming you may receive an additional $1,400 for you.
Q. 4. Do non-citizens qualify for the stimulus check?
A. Only resident aliens with a valid Social Security number qualify. Undocumented immigrants and those with an Individual Taxpayer Identification Number (ITIN) are not eligible.
Q. 6. Will I receive a stimulus payment if I don’t file my 2021 tax return?
A. If you did not file a 2021 tax return, you may not receive the payment automatically. However, you can still claim the Recovery Rebate Credit by filing your tax return before the deadline of April 15, 2025