Many Americans still have the opportunity to claim a stimulus check of up to $1,400, but the deadline is quickly approaching.
The IRS issued a reminder last month urging eligible individuals to file their 2021 tax returns by April 15 to claim the Recovery Rebate Credit if they haven’t already received it.
This refundable credit is for those who missed the third and final round of stimulus checks under the American Rescue Plan Act of 2021 during the COVID-19 pandemic.
The IRS is expected to automatically send payments via paper check to those who qualify based on banking information listed on their 2023 tax returns.
However, those who miss the April 15, 2025, deadline for filing their 2021 tax returns may lose out on the stimulus checks.
The amount of the payment depends on adjusted gross income (AGI). Single filers with an AGI of $75,000 or less in 2021 are eligible for the full $1,400, but the amount phases out at an income of $80,000. The same income thresholds apply to dependents, regardless of their age.
Married couples filing jointly will receive the full $2,800 if their combined income is $150,000 or less, with the amount phasing out at $160,000.
Typically, taxpayers have up to three years to file and claim their tax refunds. If they miss that window, the funds could revert to the U.S. Treasury.
The IRS has made it clear that there will be no extensions or automatic payments for those who miss the April 15, 2025, deadline.
Last-minute filers may also face processing delays that could prevent them from claiming the stimulus check in time.
In January, about $2.4 billion was paid to individuals who had filed their 2021 tax returns but had not claimed the Recovery Rebate Credit.
According to the IRS, around 1.1 million Americans have unclaimed refunds from tax year 2021, totaling more than $1 billion. These individuals have not filed their Form 1040 for that year.
The median refund amount for non-filers in 2021 was about $781, not including the Recovery Rebate Credit.
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