Taxes are often seen as a burden, but sometimes, they come with unexpected benefits. The Internal Revenue Service (IRS) has announced great news for eligible taxpayers who may have missed out on their stimulus payments.
This update means that some individuals could receive an automatic payment without needing to file an amended tax return.
Eligible Taxpayers
The IRS recently reviewed its data and found that many taxpayers who filed a 2021 tax return did not claim the Recovery Rebate Credit. This credit was available to individuals who did not receive one or more Economic Impact Payments (EIP), also known as stimulus checks.
To correct this, the IRS planned to issue automatic payments at the end of 2023 to those eligible. This means that some taxpayers may have already received their missing stimulus funds, either as a direct deposit or a paper check in the mail.
How to Claim
If you did not file a 2021 tax return, you might still qualify for the Recovery Rebate Credit. However, you must file your 2021 tax return and claim the credit by April 15, 2025. This provides a two-year window for individuals to claim their missing stimulus payments.
Take Action
- If you are eligible, you do not need to take any action—the IRS is sending payments automatically.
- If you never filed a 2021 tax return, you must file by April 15, 2025, to claim the credit.
- If you already received your full stimulus payments, you will not receive anything extra.
Who Qualifies
The maximum Recovery Rebate Credit amount is $1,400 per person. Most eligible taxpayers have already received this, but if you haven’t, you might be one of the individuals the IRS is now sending payments to.
The IRS aims to make these payments without requiring individuals to file an amended tax return, saving taxpayers time and effort. IRS Commissioner Danny Werfel assured that the agency is working hard to ensure eligible recipients receive their payments smoothly.
Payment
If you think you’re eligible but haven’t received the payment yet, here’s what you can do:
- Check Your Mailbox – Some payments may arrive as a paper check instead of a direct deposit.
- Look at Your Bank Account – If the IRS has your direct deposit information, the payment might already be there.
- Use the IRS Online Tools – The IRS website has resources where you can check your stimulus payment history and claim any missing amounts.
- File a 2021 Tax Return (if needed) – If you haven’t filed yet, do so before April 15, 2025, to receive your credit.
This IRS initiative ensures that eligible taxpayers get the money they are entitled to, helping them recover any missing stimulus payments without unnecessary hassle. So, if you think you’re eligible, check your account and mail—you might have some extra cash waiting for you!
FAQs
Who qualifies for the stimulus payment?
Individuals who did not receive one or more Economic Impact Payments may qualify.
Do I need to file an amended tax return?
No, the IRS is issuing payments automatically for eligible taxpayers.
What is the deadline to claim the Recovery Rebate Credit?
You must file your 2021 tax return by April 15, 2025, to claim it.
How much is the maximum stimulus payment?
The maximum payment is $1,400 per person.
How can I check if I received my payment?
Check your bank account, mailbox, or use IRS online tools to verify.
