QUALIFYING Americans can receive a stimulus check worth $1,400.
There is still time to claim the payment before the deadline.
GettyThe IRS is distributing stimulus payments to benefit working Americans[/caption]Over 1 million people can still claim a $1,400 stimulus check, according to the IRS.
The check is designed to provide financial relief to working Americans.
The IRS is automatically issuing stimulus checks to individuals who didn’t claim the Recovery Rebate Credit on their 2021 tax returns.
The Recovery Rebate Credit gives taxpayers a chance to claim missed Economic Impact Payments as a refundable credit.
While the window to claim the first and second payments has closed, those who didn’t file a federal return in 2021 can still receive funds from the third round.
Married couples filing jointly with an Adjusted Gross Income (AGI) of $150,000 or less in 2021 can claim up to $2,800 from the Recovery Rebate Credit.
The credit is phased out for those who earn $160,000 or more.
Anyone earning above that threshold will be ineligible for the payment.
Those who still have not filed their 2021 tax returns should also look out for Earned Income Tax Credit (EITC).
This provision is intended to help taxpayers with children who earn moderate to low income.
They can receive as much as $6,728.
Dependents of any age were eligible for the $1,400 credit in 2021.
However, income-based phase-out limits still apply.
The IRS began issuing automatic payments in late December 2024 after identifying many individuals who missed the Recovery Rebate Credit on their 2021 returns.
Taxpayers who haven’t filed for 2021 still have until April 15 to qualify, even those who make little to no income.
The move aims to streamline the process and eliminate the need for amended returns, according to the IRS.
Payments are sent by direct deposit or check based on details from 2023 returns.
Those who qualify for the returns will receive a letter confirming payment.
The IRS will continue issuing payments as 2021 returns are filed.
Taxpayers who did not file their tax returns in 2021 should file those returns, as well as those from 2024, by the April 15 deadline in order to receive benefits.
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