Texans who missed out on their 2021 stimulus check through the Recovery Rebate Credit are in for some good news.
The Internal Revenue Service (IRS) has announced it will soon issue payments to one million taxpayers who didn’t claim the credit while filing their 2021 tax returns.
In a recent press release, the IRS confirmed these payments will be sent out automatically. Eligible taxpayers do not need to take any action to receive the money.
Payments will be processed starting in December 2024, with most arriving by late January 2025. They will either be directly deposited into bank accounts or sent as paper checks. Additionally, recipients will receive a letter notifying them of the payment.
If you’re wondering how much you might receive, what steps to take, or whether you qualify, here’s everything you need to know.
How Much Money Will You Get?
According to the IRS, eligible taxpayers can receive up to $1,400 as part of the Recovery Rebate Credit. A total of $2.4 billion is being distributed to individuals who missed out on this benefit.
The exact amount you’ll receive depends on your eligibility and tax records.
How Will the Payments Be Sent?
The good news is that you don’t need to do anything extra to receive this payment. The IRS will automatically send the money to qualified taxpayers. Here’s how it works:
- If you provided your bank details when filing your 2023 tax return, the payment will be directly deposited into that account.
- If you didn’t provide bank details, a paper check will be sent to your mailing address on record.
Most payments are expected to arrive by late January 2025, so keep an eye on your bank account or mailbox during this time. To confirm your payment, the IRS will also send a separate letter with details about the deposit or check.
What If You Didn’t File Your 2021 Taxes?
If you didn’t file a tax return for 2021, you can still qualify for the stimulus check. However, there’s a deadline.
To claim the credit and any other refunds you may be eligible for, you must file your 2021 tax return by April 15, 2025. Missing this deadline could mean losing out on the payment.
Filing your tax return is straightforward. You can use online tax software, visit a tax preparer, or get assistance from an IRS-certified free tax filing program. Make sure to complete your return before the deadline to avoid missing out.
Who Is Eligible for This Payment?
Eligibility for this special payment is based on information the IRS has on file. You may qualify if:
- You left the Recovery Rebate Credit section blank or entered $0 on your 2021 tax return.
- IRS data shows you meet the criteria for the credit.
In simple terms, if you were eligible for the stimulus check in 2021 but didn’t claim it, the IRS will automatically send your payment. Even if you didn’t realize you qualified back then, you might still receive the money now.
What’s Next?
If you believe you’re eligible for this payment, there’s no need to stress. The IRS has taken steps to ensure all qualified taxpayers receive their stimulus checks without any additional action.
Payments will be issued over the next few months, so be patient if yours doesn’t arrive immediately.
For those who didn’t file taxes in 2021, it’s important to act quickly. Filing your tax return before the April 2025 deadline is the only way to claim this payment and any other potential refunds.
Don’t miss this opportunity to get the money you’re entitled to.
The IRS has also urged taxpayers to keep their mailing addresses and bank information up to date. If you’ve recently moved or changed bank accounts, make sure your information is updated with the IRS to avoid delays.
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