Although most of the Economic Impact Payments made possible by the American Rescue Act have already been sent to eligible recipients, you still have the opportunity to claim the third stimulus payment worth up to $1,400 per person by filing your 2021 tax return.
According to the IRS, there is still time to file to get any missed 2021 stimulus payments. It is too late to use the “Get My Payment” app to check your stimulus payment status, but you can check your IRS Online Account for any unpaid stimulus payments and for what amount you might be owed.
The IRS also sent information to individuals in March confirming the total amount of their third Economic Impact Payment and any plus-up payments they received for the tax year 2021, via a Letter 6475. The information contained in the letter or in your online account will be needed to submit a 2021 Recovery Rebate Credit on your 2021 federal tax return in 2022. Checks will not be sent.
Third stimulus check payments are based on the most recent taxpayer federal tax return on file with the IRS. That means you could be owed more money if your income dropped or you added new dependents in 2021. If you never filed a tax return in 2019 or 2020, you might be due the full credit. If your income is $73,000 or less, you can file your tax return for free using the IRS’ tax preparation and filing software Free File.
Individuals are eligible to receive the full amount of $1,400 per person if they earn less than $75,000 of adjusted gross income, are heads of households (single parents) earning less than $112,500 or are married couples earning less than $150,000.
Economic Impact Payments were authorized by The American Rescue Plan Act of 2021 to help people struggling financially because of the COVID-19 pandemic. Signed into law on March 11, 2021, the payments were sent to taxpayers beginning on March 12, 2021, and continued through the end of last year.
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