The IRS stated on Wednesday that all third-round stimulus checks had been sent out. You’ll need to claim the Recovery Rebate Credit on your 2021 tax return if you haven’t received all of the money you’re entitled to.
Technically, the third stimulus checks were credit advance payments. After President Joe Biden signed off on the American Rescue Plan in March of last year, the government began disbursing them. The final installment was sent in December, according to CNBC.
However, for a number of reasons, some persons will need to claim the credit to get their stimulus funds. Parents of children born in 2021, as well as households that added another qualifying dependent, such as a parent or grandchild, to their 2021 return, make up the majority of the group. If the parents or guardians were eligible for stimulus funds, so is their dependent.
According to the IRS, most other eligible taxpayers have already received the entire amount due to them and will not need to claim the credit. However, some persons who were eligible for the payments may not have gotten them at all, or may have received less than they were entitled to.
Keep this letter to claim your remaining 2021 stimulus check
That could have been a miscalculation on the part of the IRS, or your income could have fallen between 2020 and 2021, making you eligible for more. If that’s the case, they can claim the remainder of the payment on their tax return.
If you believe you should have received a third stimulus check but never did, you will not get Letter 6475. To see the amount of your Economic Impact Payments, you’ll need to register an IRS online account. If you establish that you did not get a third stimulus check and are qualified, you can claim the recovery rebate tax credit on your 2021 tax return to receive the money.
Per CNET via MSN, you’ll also need the documents to claim any additional money from an adjusted recovery credit if the IRS calculated your third stimulus payment on your 2019 or 2020 taxes but you earned less money in 2021.
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