The IRS has made it official that it will be disbursing a new stimulus check in April, and millions of Americans who have not received it will have until April 15 to apply. The stimulus check is part of the pandemic-era Economic Impact Payments, which provided financial relief to Americans during COVID-19.
A Final Opportunity to Receive the Pandemic-Era Relief
The IRS announced that the Recovery Rebate Credit from 2021, worth up to $1,400 per individual, can still be claimed by filing a 2021 tax return by April 15, 2025. Although it is being referred to as “New,” it is not new in origin but rather money from the third round of stimulus payments that has not been claimed by beneficiaries. These are people who never received the check or did not know that they were eligible to claim it.
Now, the IRS has urged such people who missed it to hurry up since time is running out and there will be no extension of the deadline.
Who Qualifies for the $1,400 Stimulus Check?
To qualify for the new stimulus check in April, you must have been a resident of the U.S. in 2021, possess a valid Social Security number, and not have been claimed as a dependent on someone else’s return for 2021.
Eligibility for the full $1,400 stimulus check also depends on your adjusted gross income (AGI) as follows;
- Single filers of $75,000 and below.
- Married couples filing jointly of $150,000 and below.
Individuals earning $80,000 and above and couples earning over$160,000 jointly are not eligible for the full amount because that’s where the phase-out ends.
How to Apply for a Stimulus Check Before the IRS Deadline
If you have never filed a 2021 tax return, you will need to submit a 2021 Form 1040 and claim the Recovery Rebate Credit on line 30. The IRS says that even those who had minimum income or none in 2021 should also apply because they may still be eligible for the payment.
Those who already filed in 2021 should check their accounts because the IRS may have already issued the check since the agency started sending out the payments in December 2024. Approximately 1 million eligible Americans who missed the credit are set to receive approximately $1 billion.
Why Some Individuals Are Still Missing Out
Even after making it official, the IRS says that many taxpayers remain unaware of their eligibility. Others filed returns without claiming the Recovery Rebate Credit, while others didn’t file at all. IRS has also made it clear that failing to file the 2021 tax return is equal to forfeiting the $1,400 stimulus check.
Individuals who are yet to receive the stimulus check and are eligible must act by April 15, 2025; after that, the funds will become the property of the U.S. Treasury.
Why You Should Claim the $1,400 Stimulus Check
Although the new stimulus check being disbursed in April is not a relief program, it could go a long way toward covering expenses like buying groceries and paying for other expenses like rent. If you or someone you know has yet to receive the third round of stimulus checks, please act before the deadline.
Conclusion
There is limited time for those who have not filed the 2021 tax return, so the time to act is now. Remember, this is the last shot, and the IRS will not be extending the deadline. Additionally, any money that remains unclaimed will be returned to the treasury.
For more updates regarding the $1,400 stimulus check, visit IRS.gov or talk to a tax preparer to help you file your 2021 tax return and submit it before the time runs out.