The 2021 American Rescue Plan provided a significant opportunity for individuals to receive $1,400 stimulus checks. However, if you missed out on receiving your payment, the IRS is still accepting claims.
You can claim your stimulus check until April 15, 2025, even if you didn’t file taxes in 2021 or received income from sources like Social Security.
Understanding the Recovery Rebate Credit
The key to accessing your stimulus payment lies in the Recovery Rebate Credit. This credit doesn’t just apply to you, but also to dependents, including university students or grandparents living in your household.
Many people are unaware that these individuals now qualify, which could mean receiving hundreds or even thousands of extra dollars. However, you must act quickly as time is running out.
Urgent: File Your Claim Now!
Eligibility for the credit is based on your 2021 adjusted gross income (AGI). The limits are:
- $75,000 for singles
- $150,000 for couples
If your income exceeds these amounts, the credit amount will decrease gradually. For example, if a single person earned $78,000, they would receive a reduced amount, and if the income reaches $80,000, no credit would be provided.
Didn’t File Taxes in 2021? Here’s What to Do
Even if you didn’t file taxes in 2021, you can still claim the credit. You can use the IRS Free File system to submit your return, even if you had no income that year.
Opt for direct deposit to speed up the process. While the IRS has sent automatic payments to 1 million people, if you’re not on that list, you need to take action.
Common Mistakes That Could Cost You
There are several misconceptions regarding eligibility for the Recovery Rebate Credit:
- SSI and SNAP benefits don’t affect eligibility. Many people mistakenly believe that receiving these benefits disqualifies them, but that’s not true.
- Adult dependents also qualify for the credit. If you have dependents like university students or individuals with disabilities in your care, you are entitled to claim $1,400 for each one.
It’s important to review your eligibility by checking IRS Letter 6475 or logging into your IRS online account to verify your claim amount.
Understanding Deadlines and Avoiding Scams
Another common misunderstanding is that if you didn’t work in 2021, you’re not required to file a return. However, without filing, the IRS cannot process your credit, and you may lose out on this money.
Be cautious of scams offering to send you payments via text messages. The IRS never initiates contact through text.
Example Scenarios: How Much Could You Receive?
Case 1: A Couple with Two Children
- AGI: $145,000
- They could claim a total of $5,600 (1,400 for each adult and dependent).
Case 2: A Retiree with Non-Taxable Income
- If the retiree submits a return with their benefit information, they could access the full amount.
Case 3: Forgot to Claim the Credit After Filing
- If you’ve already filed your 2021 tax return but forgot the credit, you can correct it using Form 1040-X. Be prepared for a slower process, so it’s best to submit the correction as soon as possible.
Helpful Tools and Resources
The IRS website offers helpful tools like credit calculators and step-by-step guides. If you choose to use IRS Free File, the system will automatically guide you through the process.
In-Person Assistance
If you prefer in-person help, many community centers offer free tax assistance. Ensure that you bring all necessary documents, including W-2s, 1099s, or proof of social benefits.
Don’t Miss Out: Claim Your Stimulus Check Today!
While the IRS has begun sending automatic payments to those who filed their 2021 returns but missed the credit, you must file your claim to receive your funds if you have not yet done so. Remember, the deadline to claim your stimulus check is April 15, 2025.
The IRS estimates $2.4 billion remains unclaimed. If you don’t claim your payment before the deadline, you will lose the opportunity forever. For many families, this money could be used for essential expenses like debts, medical bills, or emergencies. Even if your credit amount seems small, every dollar counts.
Don’t wait until the last minute!
The IRS online systems could experience delays, or you may encounter technical issues when trying to file your claim. If you mail your return, use certified mail to ensure you have proof of delivery. After the April 15, 2025 deadline, there will be no extensions or exceptions.
The 2021 American Rescue Plan left a significant opportunity for those who missed the $1,400 stimulus checks to claim the Recovery Rebate Credit. It’s crucial to file your claim before April 15, 2025, or risk losing the funds.
Be sure to check your eligibility, correct any mistakes, and take advantage of the tools and resources provided by the IRS to ensure you don’t miss out on this valuable opportunity.
FAQs
What if I didn’t work in 2021?
Even if you didn’t work, you can still file a tax return to claim your stimulus payment, as the IRS cannot process the credit without a filed return.
How can I check if I’m eligible?
You can use the IRS Free File tool to check eligibility and file your return. Additionally, you can check your eligibility by reviewing IRS Letter 6475 or logging into your IRS account.
Can I claim the credit if I receive SSI or SNAP?
Yes! Receiving SSI or SNAP benefits does not affect your eligibility for the Recovery Rebate Credit.
What if I’ve already filed my return but forgot to claim the credit?
If you missed claiming the credit, you can file an amended return using Form 1040-X.