Money might still be available for Americans who were entitled to stimulus checks in 2021, but did not receive the correct amount.
Anyone who believes they are owed more than they received will be able to claim the Recovery Rebate Credit when filing their 2021 tax returns.
Families who had a baby in 2021 and those who added a new dependent to their tax return are among those who can receive the extra stimulus cash.
Individuals who earned more than $80,000 in 2020 but whose income was less in 2021 are also eligible to pick up the $1,400 payment if they haven’t already received it.
This maximum income threshold is at $160,000 for couples.
The third federal stimulus check, which the government began paying out in March of last year, was issued mainly based on 2019 and 2020 tax returns.
However, many Americans earned less last year, making them eligible for the $1,400.
Unless they updated their information with the IRS, they would not have received the check as the agency would have believed they earned too much based on previous tax returns.
The IRS announced that it has issued its final round of stimulus checks and those who are still eligible will not receive the $1,400 in another batch of direct payments.
The deadline for distributing payments was December 31, 2021.
To get the cash, you’ll need to file a 2021 tax return.
To get a payment, you must claim the Recovery Rebate Credit on your tax return.
To claim the credit, individuals will need to know the total amount of their third round of economic payments.
That amount can be found on your IRS online account or on IRS Letter 6475 that is being sent to American households.
The IRS started accepting tax returns on January 24, and it typically takes 21 days for refunds to be sent out.
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