The Internal Revenue Service (IRS) has confirmed Stimulus check rumors urging Americans to claim the money they are owed. The IRS is aware that some taxpayers have not received their full 2021 stimulus checks and they have until April 15, 2025, to claim it. It is important to note that if you are one of the millions who have not received the check, this is your last chance.
Who is Eligible for the 2021 Stimulus Check?
The stimulus checks, also known as the Recovery Rebate Credit, were meant to provide financial relief to Americans during the COVID-19 pandemic. While most Americans received their payment, some did not until now for various reasons.
To be eligible for the stimulus check, a taxpayer must;
- Have been a U.S. citizen or resident alien.
- Have a valid Social Security number.
- Not be listed as a dependent on someone else’s tax return.
How Much Are the Stimulus Checks?
The maximum amount individuals should expect is $1,400 per individual while married couples who file tax returns jointly are eligible for up to $2,800 if their adjusted gross income (AGI) is $150,000 or less. Families with dependents will receive an additional $1,400 for every dependent including adult dependents.
Why Some Americans Did Not Receive Full Stimulus Check
Although stimulus checks in 2021 were distributed widely, some Americans never received full stimulus checks for various reasons. One main reason was that, to receive IRS, you must file 2021 tax returns. Therefore, those who failed to file tax returns in 2021 were not eligible and they ended up not receiving the check. Secondly, those who filed might have failed to claim the Recovery Rebate Credit or left line 30 blank.
Other taxpayers assumed that they were not eligible for stimulus checks particularly retirees, individuals with no or little income, students, and people without dependents. IRS made it clear that even if one had minimal income in 2021, they are still eligible for a stimulus check and all they have to do is file 2021 tax returns before the April 15, 2025 deadline.
How to Claim Your Stimulus Check
IRS has ensured that the process of claiming a stimulus check is easy. First, taxpayers who failed to file a 2021 tax return must submit Form 1040 to the IRS and remember to include the Recovery Rebate Credit on Line 30 which indicates the amount of stimulus check they are owed.
For those who filed tax returns in 2021 but did not receive the stimulus check, the IRS may have automatically sent payments in late 2024, or early 2025. Therefore, eligible individuals should check their accounts online and confirm if the payment was issued. If not, they should contact the IRS for further guidance.
Additional Tax Credits Besides Stimulus Checks
The tax year 2021 included additional credits that could lead to a larger refund for eligible taxpayers. These credits include;
- The Child Tax Credit of up to $3,600 per child and $3,000 per child between age 6 and 17.
- The Earned Income Tax Credit (EITC) allows some low-income workers to get up to $6,728.
- The Child and Dependent Care Credit of up to $8,000 for qualifying childcare expenses.
All these tax credits require one to file the 2021 tax return and anyone who never files is at risk of losing them all including stimulus checks.
Scams to Avoid
As news about claiming stimulus checks spreads, some scammers have taken advantage. The IRS has issued warnings to citizens about fraudulent phone calls and emails claiming they can help people receive their stimulus checks for a fee. Individuals should note that the IRS does not charge for tax refunds or ask people for their personal information over the phone.
People should also be cautious of fraudulent tax preparers who promise to increase the refund amount. Additionally, the IRS has warned that people filing false returns to claim stimulus checks could face heavy penalties.
Conclusion
According to the IRS, over one million Americans qualify for a $1,400 stimulus check but only if they file a 2021 tax return before the April 15, 2025 deadline. This is the last chance for anyone who missed out earlier to claim the check. So, take action early and advise other eligible citizens to do so too.