The federal government authorized three rounds of stimulus payments between 2020 and 2021. Americans needed to meet certain conditions to receive each of the disbursements. Although Congress has not sanctioned more payments, tax filers may still claim their stimulus money if they did not get the full amount.
Individuals may have missed a payment or received less than owed for several reasons. The Internal Revenue Service (IRS) sent out notices after each payment that informed taxpayers of how much they received, the method of issuance, and how to report missing payments. Find out more about how much households should get and how to claim stimulus payments.
Adults who did not get their first, second, or third Economic Impact Payment or received less than the full amount may still be able to claim the owed money. Qualified individuals will need to file their taxes to claim the Recovery Rebate Credit.
Even if they normally do not need to file, they will need to file in order to claim the credit. That’s because, unlike the stimulus checks that were distributed in 2020 and 2021, these missing payments will be included in a tax return.
Although the Recovery Rebate Credit applied to previous years’ tax returns, it’s still not too late to claim it.
- If you’re eligible to claim the 2020 Recovery Rebate Credit, you must file a tax return by May 17, 2024.
- If you’re eligible to claim the 2021 Recovery Rebate credit, you must file a tax return by April 15, 2025.
The IRS previously had a tool that made it simple to request missing Economic Impact Payments through its website, but the “Get My Payment” feature is no longer available. Taxpayers can create and view an online account to verify payment amounts.
The IRS website allows individuals to access their records, manage communication preferences, and view payments.
Plus-up payments were additional funds for people who qualified for a larger amount based on their 2020 tax returns. The stimulus payments amounts and dates are listed below:
- First stimulus, March 2020 – $1,200 for single filers or $2,400 for joint returns, plus $500 for each eligible dependent child under the age of 17
- Second stimulus, December 2020 – $600 for single filers, plus $600 for each eligible dependent child under the age of 17
- Third stimulus, March 2021 – $1,400 for single filers or $2,800 for joint returns, plus $1,400 for each qualifying dependent (including adult dependents)
Taxpayers could typically get the full amount of the Economic Impact Payment if they had an annual gross income of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household, and up to $150,000 for married couples filing joint returns and surviving spouses
Those who did not receive these stimulus checks or did not get the full amount for which they qualified may be able to claim the funds on this year’s tax returns. Next, find out more about stimulus amounts and the qualifications for receiving stimulus payments.
By Admin –