Millions of Americans are in for a pleasant surprise this month as the IRS begins sending out a new wave of stimulus checks. If you didn’t claim your Recovery Rebate Credit (RRC) on your 2021 taxes, you could be eligible for a payment of up to $1,400 per person.
This initiative is part of a government effort to ensure no eligible taxpayer misses out on pandemic-related financial relief. Here’s everything you need to know about these checks.
Who’s Getting the Payments?
The IRS identified roughly one million taxpayers who qualify for these payments. Most of them missed claiming the RRC when filing their 2021 tax returns, either by leaving the section blank or incorrectly marking it as $0.
If your adjusted gross income (AGI) meets the following criteria, you’re likely eligible:
- Single Filers: AGI under $75,000
- Heads of Household: AGI under $112,500
- Married Filing Jointly: AGI under $150,000
Payments start to phase out for incomes above these levels.
When and How Will You Receive It?
Payments are already being processed, with most set to arrive by the end of January. If the IRS has your bank details, the money will be deposited directly into your account. Otherwise, they’ll mail a check to your registered address.
You’ll also receive a letter confirming the payment once it’s issued. Be on the lookout for these notifications to ensure you don’t miss out.
What About Non-Filers?
If you didn’t file a 2021 tax return, there’s still time to claim the Recovery Rebate Credit. The deadline for filing and claiming this credit is April 15, 2025. This is particularly important for people with little or no income, who might otherwise overlook their eligibility for refunds.
A Final Reminder from the IRS
IRS Commissioner Danny Werfel emphasized the importance of these payments, saying, “We’re committed to ensuring every taxpayer gets the support they’re entitled to.”
If you think you might qualify or want to check your eligibility, it’s a good idea to review your 2021 tax filings. For more information, visit the official IRS website.
This latest round of payments is a welcome relief for many, offering a second chance to claim financial aid during challenging times. Stay informed, check your mailboxes, and don’t miss out!
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