The Internal Revenue Service (IRS) is reminding taxpayers that the deadline to claim the 2021 Recovery Rebate Credit, worth up to $1,400 per individual, is April 15, 2025. This credit is available to those who did not receive the third round of Economic Impact Payments (stimulus checks) during the COVID-19 pandemic.
Eligibility
Criteria:
Income Limits: Individuals with an adjusted gross income
(AGI) up to $75,000, heads of household up to $112,500, and married couples
filing jointly with an AGI up to $150,000 are eligible for the full credit. The
credit phases out for incomes above these thresholds.
Dependents: Eligible individuals can also receive an
additional $1,400 for each qualifying dependent.
Taxpayer
Advocate Service
How to
Claim the Credit?
File a 2021 Tax Return: Even if you typically do not
file taxes, you must submit a 2021 tax return to claim the credit.
Recovery Rebate Credit Worksheet: When filing,
complete the Recovery Rebate Credit Worksheet to determine your eligible credit
amount.
Submission Deadline: Ensure your 2021 tax return is
filed by April 15, 2025.
Additional
Information:
Automatic Payments: In December 2024, the IRS began
issuing automatic payments to approximately 1 million taxpayers who were
eligible but did not claim the credit on their 2021 returns. These payments
were distributed via direct deposit or mailed checks.
Non-Filers: If you did not file a 2021 tax return,
you might still be eligible for the credit. The IRS encourages non-filers to
submit a return to claim any owed credits.
For more details and to access necessary forms, visit the IRS website or consult a tax professional. Act promptly to ensure you receive any stimulus funds you're entitled to before the April 15, 2025 deadline.
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