Didn’t get your 2021 stimulus check? There is still a time to claim it.
According to a recent assessment, millions of taxpayers have yet to claim their 2021 stimulus check.
As part of its COVID-19 relief efforts, the US government provided more than $930 billion in direct economic impact payments, disbursing three rounds of stimulus payments totaling up to $1,200 per adult in April 2020, $600 in December 2020, and $1,400 in March 2021.
These stimulus payments were just advance payments for the Recovery Rebate Credit, a fully refundable tax credit.
The credit was available for tax years 2020 and 2021, thus those who did not initially receive stimulus checks might have claimed them on the tax returns submitted in the spring of 2021 and 2022.
The Treasury Inspector General for Tax Administration has found that over 3 million people may be eligible to collect a portion of the $4.7 billion in unclaimed Recovery Rebate Credits after reviewing 2021 tax returns.
Taxpayers generally have three years from the date they filed their return to seek a credit or refund, and non-filers also have three years.
Early this year, the government announced that all three rounds of the stimulus payments had been distributed.
There are some taxpayers who never received their third payment or did not receive the full amount of stimulus funds, despite the fact that the vast majority of Americans had previously received the correct amount.
The 2021 stimulus check that these people file or modify may provide them another opportunity to claim it.