There might be a welcome surprise for thousands of Americans who did not receive their stimulus funds from the pandemic. About a million taxpayers who qualified for the Recovery Rebate Credit but failed to claim it on their 2021 tax returns will automatically get up to $1,400 in relief, according to an announcement made by the IRS.
However, during the 2021 filing season, a large number of qualified taxpayers failed to receive the credit because of misunderstandings or mistakes.This case is being handled by the IRS.
Most People Don’t Need to Take Any Action
Danny Werfel, a former IRS Commissioner, stated that the payments are being made automatically; there is no need to complete any paperwork or file updated forms.
Depending on how their 2023 tax return was filed, those who were identified will either receive the funds by paper check or direct deposit. Returned payments will be sent to the most recent address on file if the banking information has changed.
Have You Not Filed Your 2021 Tax Return?
There is yet hope. You can still claim the credit if you haven’t filed your 2021 tax return yet, but only if you take action by April 15, 2025. You might be eligible for the whole $1,400 if you filed, even if you made little or no money that year.
Watch Out for Stimulus Check Fraud
Regretfully, scammers have been posing as the IRS in phony text messages that offer stimulus money in return for personal information. Digital messages are not used by the IRS to communicate with taxpayers. Keep an eye out and visit irs.gov to verify your payment status immediately.
