Stimulus check update: IRS warns time is running out to claim payment of up to $2,400
The Internal Revenue Service has a message for people tax filers who have not claimed their COVID-era stimulus payments – time is running out.
In a statement released this week, the IRS said May 17 is the deadline to file a tax return for 2020, a step needed to claim the stimulus payment. The vast majority of people eligible for stimulus funds, officially known as Economic Impact Payments, received them in 2020 and 2021. Those who didn’t or who didn’t get the full amount, however, could be eligible for the Recovery Rebate Credit but they first must file a tax return, even if their income was minimal or non-existent.
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Taxpayers owed a refund have three years after the filing due date to file and claim any money they’re owed. For 2020′s credit, the deadline to file is May 17, three years after the original due date of May 17, 2021. For 2021′s credits, you have until April 15, 2025.
The credits are worth up to $2,400 for married couples filing jointly or $1,200 for individuals.
To be eligible for the credits, you must have been a U.S. citizen or resident alien in the respective year, not be claimed as a dependent on another taxpayer and have a Social Security number issued before the tax return’s due date. Filers can also claim the credits for someone who passed away in 2020 or later.
You can see more on how to claim the credits here.
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