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Some Americans may still qualify for a stimulus check, according to the Internal Revenue Service (IRS).
In a recent memo, the IRS announced that some tax payers who did not claim the Recovery Rebate Credit on their 2021 tax returns have already begun receiving payments.
“No action is needed for eligible taxpayers to receive these payments,” the agency said regarding those who have not yet received funds.
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The deadline to receive the Recovery Rebate Credit, worth up to $1,400, is April 15, 2025.
To qualify, eligible individuals must file their 2021 tax return before the cutoff date, Forbes reported Monday, March 17.
“The IRS continues to work hard to make improvements and help taxpayers,” IRS commissioner Danny Werfel said in December.
“These payments are an example of our commitment to go the extra mile for taxpayers. Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible,” Werfel continued.
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“To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it.”
The Economic Impact Payments (EIP), also known as stimulus payments, were issued during the COVID pandemic when many were unable to work nationwide.
Like before, payment amounts will vary from case to case, but the maximum a person can receive is $1,400. The estimated amount of payments going out will be about $2.4 billion, the IRS said.
People filing individually were capped at no more than $75,000 for their adjusted gross income (AGI) in order to receive the full $1,400, CNBC reported Tuesday, March 18, reiterating the stipulations set by the IRS.
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However, $80,000 would be the limit for the Recovery Rebate Credit.
Married persons who file jointly with their spouse would “qualify for $2,800 if their combined AGI in 2021 was $150,000 or less, but the credit phases out completely at an income of $160,000.”
Meanwhile, dependents could also earn the full $1,400 no matter their age from 2021.
For more information and to see if you are eligible, visit IRS.gov.