Hey, taxpayers! Big news from the IRS! If you missed claiming the Recovery Rebate Credit on your 2021 tax return, you could be getting money sent your way; automatically! Here’s what you need to know:
Now you may be asking yourself what is the recovery rebate credit?
Well, It’s a refundable credit for folks who didn’t get their full stimulus payments during the pandemic. Think of it as a financial boost you didn’t know you were missing!
The IRS found many people qualified but didn’t claim the credit on their 2021 tax returns. If that’s you, don’t worry—you don’t need to take any action. Payments will be sent automatically!
Now if you qualified you might be wondering how much you could get.
The answer is up to $1,400 per person, depending on your situation. In total, $2.4 billion is being distributed!
Some of you may have gotten payments late last month and they will continue rolling out until late January and you’ll get it one of two ways:
Direct deposits to your bank account
Paper checks mailed to your address
Didn’t File a 2021 Tax Return?
You had until April 15, 2025, to file and claim the credit; even if you had little or no income.
Remember there is no action needed, the IRS will handle it.
