The IRS has repeatedly insisted that there are millions of dollars in stimulus checks unpaid. Although it could be from the 2020 tax return, some may also qualify for a Recovery Rebate Credit for 2021.
It is possible that someone you know who is in financial difficulties may qualify for a stimulus check. Even if most eligible Americans have filed, there are many people who have not done so.
WHEN IS THE DEADLINE TO FILE FOR THE 2020 STIMULUS CHECK PAYMENT?
If you have not filed your 2020 tax return yet, even if you had no obligation to file, you can still file. The IRS claims that May 17, 2024, is the last day to claim a 2020 Recovery Rebate Credit.
In case you still do not know what the Recovery Rebate Credit or a stimulus check is, let’s have a look at it. Basically, it is a refundable credit. They are Economic Impact payments to help the country get out of the financial hardship after the pandemic.
Do not forget that it is not possible to claim this stimulus check unless you file a 2020 tax return said the Internal Revenue Service. Spread the word since there are many families and individuals who can still get large payments. It could be the full amount or part of it.
WHO QUALIFIES FOR THE 2020 RECOVERY REBATE CREDIT OR STIMULUS CHECK PAYMENT?
The IRS claims that, in general, you must have been a United States citizen in 2020. If not, you must have been a resident Alien in 2020. Be careful if you have been a dependent.
Apparently, you cannot claim this stimulus check if you have been claimed as a dependent by another taxpayer. So, if you are in this situation, you will not be eligible.
What is more, you will need to have a Social Security number. If you do not qualify for the 2020 Recovery Rebate Credit, you may want to check if you can get the 2021 stimulus check. The deadline to file your 2021 tax return will be on April 15, 2025.