Close to 600,000 Americans have but a week to claim their third stimulus check payment, worth at least $1,400 for each eligible individual. April 18 is the last day to file income tax returns for 2021.
Around 99.5% of Americans have already received their stimulus check starting March 2021 when President Biden signed the American Rescue Plan Act worth $1.9T. the Economic Impact Payments or the third relief check were part of that act.
But for multiple reasons, many citizens are awaiting their check, and they can claim it through the Recovery Rebate Credit along with their income tax returns this year. Even people who do not need to file an income tax return as they come in the exempted bracket will have to file their returns to claim the third stimulus check.
Documents Received From The IRS Help In Determining The Stimulus Check Amount Due To You
The details of any amount received from the IRS against the stimulus check have to be entered in the RRC. You also have to determine the amount that you are eligible to receive from the authorities.
You can determine the amount receivable in your third stimulus check by reviewing the IRS letter that they have mailed or checking it online.
The letter was sent in January and included Letter 6475 from the IRS. The letter contained the amount received by filers for the 2021 tax year and helps in filling tax returns quickly and correctly.
By calculating the amount specified, you can decide the exact amount you will receive through either the Form 1040 RRC worksheet or any online income tax software.
You can apply for an extension of 6 months through Form 4868.
Individuals earning $75,000 or less will be eligible for the total stimulus check amount For a married couple filing jointly, the amount is double that. Once past this threshold, the stimulus check amount starts to decrease in phases.