Time is running out for millions of Americans who still may be eligible to receive their $1,400 stimulus check. The Internal Revenue Service (IRS) has implemented a strict deadline of April 15, 2025, for taxpayers to file their 2021 tax returns and claim any payments that may be due to them.
Why is this important?
During the COVID-19 pandemic, stimulus checks were issued to provide financial relief to families. However, many Americans who were eligible at the time, missed out on these payments or they received less than what they supposed to. The IRS indeed allows a 3-year grace period to claim refunds, including stimulus payments and this means that any chances to claim refunds will be permanently closed by April 15, 2025.
If they submit the required documentation in time, more than a million Americans might still be eligible for this funding.
Who is eligible?
The $1,400 stimulus check eligibility was mostly determined by 2021 income levels. Here’s a brief summary:
For individuals with an Adjusted Gross Income (AGI) of $75,000 or less, single filers get full payment. At $80,000, the payout phased off entirely.
Married couples filing jointly: if their total AGI is $150,000 or less, they must pay $2,800 in full. At $160,000, the payout fades off entirely.
Dependents: Subject to the same income restrictions, all dependents, regardless of age, were entitled for $1,400.
It is important for citizens to check their eligibility status.
Consequences of missing the deadline
There are no regular extensions or grace periods for the April 15, 2025, deadline, and the IRS will stop issuing refunds for the 2021 tax year after that date, with the exception of military personnel working in combat zones or individuals experiencing IRS processing difficulties.
Your stimulus payment is not the only thing that is impacted by missing the deadline. Refundable credits like the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) are also available to many individuals. These credits are also linked to your 2021 tax return and can yield sizable refunds, frequently totalling thousands of dollars. If you don’t file, you lose everything.
What should you do?
It is important to act quickly if you are unsure whether you have received your full stimulus check or if you did not file taxes in 2021. You can still file a return by mailing a paper return or electronically using the IRS Free File program, but you must do so by the deadline of April 15.
Ensure that you confirm your eligibility using the IRS tools to check if you have received the full stimulus amount in 2021. Be sure to file your 2021 Tax return by sending a mail with a paper return of file electronically using the IRS Free File Program. Ensure that you gather all the required documentation, if you need copies of any forms, such as W-2s or 1099s, get in touch with your financial institution or employer. Seek assistance from IRS-partnered programs that offer free tax preparation services to low-income individuals.
Conclusion
From April 15, 2025, the deadline will be difficult to bypass. It is important that you act quickly to secure any unclaimed stimulus payments or refundable tax credits related to your 2021 tax return. If you miss this opportunity, it simply means that you are forfeiting financial assistance such as the $1,400 stimulus check, CTC and EITC and these could provide significant financial relief to individuals. The IRS will not offer refunds after this date so ensure that you reclaim what belongs to you. File your returns to protect the future of your finances and benefits.