A letter signed by President Biden will arrive a couple of weeks after you receive your stimulus check. Be careful to retain it along with your tax papers. It could bring in more money in the future.
You might wonder about the purpose of a letter after you have already received a stimulus check. More than 165M stimulus payments have gone out to Americans either through direct deposits or paper checks.
But you could be in for some more payment that you might have to claim next. The Notice 1444-C, as it is officially called, could help you claim any mislaid stimulus check? It could also help you claim any money that you might have missed out on.
The IRS notice contains vital information about the amount of the payment, the mode of the payment made, and the ways to report if the payment is not received. Some people might also receive multiple notices after a payment.
Retain The IRS Letter For Plus-Up Stimulus Checks
Keep this letter along with the records of the tax year 2021. For example, your initial stimulus payment could be based on the 2019 tax returns. Any subsequent return could make you entitled to more. You might receive it as a plus-up payment. But if it doesn’t come in automatically, you would have to claim it, based on the amount mentioned in the letter.
How The 2020 Tax Returns Could Help You Out
You could also miss out on the full amount of your stimulus check if a baby was born into the family in 2020. You could also have an extra member or two as dependents that need to be entered in the records.
File your tax returns before the May 17 deadline. It could help you in several ways. The first is that you could claim any pending amount from the first and second stimulus check. You can file a Recovery Rebate Credit and claim the amount along with your tax filings.
Other Ways That The Notice 1444-C Could Be Important
Notice 1444-C is sent by the IRS and signed by President Biden. It contains details, including the amount sent, and the mode of payment, direct deposit, or through the US Postal Service. You are also advised through the letter to get assistance from the Get My Payment tracker if you do not receive your stimulus check.
A similar letter, Notice 1444-A and Notice 1444-B were sent out along with the first and second stimulus letters respectively. Use these letters to claim the previous pending amount as tax refunds this year.
Accounting For Errors And Omissions
Many things could go wrong while calculating your stimulus check. The IRS might miss out on including dependents as their calculations are automatic and based on the last tax returns filed.
This is where the letter from the IRS could help you out. Your future claims should be accompanied by this letter to speed up the process.
Future Recovery Rebate Credit claims for the money have to be accompanied by this letter.
The total amount you claim as Recovery Rebate Credit in your 2020 tax returns has to be entered in line 30 of your tax forms (1040 / 1040-ST).
Update Your Present Mailing Address For All Future Correspondence
All correspondence is mailed by the IRS to the last address in their records. It is the one entered in their records. So if you move you will have to inform both the US Postal Service and the IRS. Or your checks and letters may get returned.
Making Up For A Misplaced Letter From The IRS
Though it is important to retain the original letter, you can also get all the details on the website of the IRS by using your federal tax account.
If you haven’t set up your account before, you can log in to the account page of the agency. Tap the button used to create your account and get going.
The information you will need to register on the site includes your financial and tax information. You will also have to enter an email plus a mobile number to get your activation codes.
Married couples have to create their own accounts and log in.
Check Your Details With The IRS By Getting Registered Online
It takes 15 minutes to register your account on the IRS website. The IRS will send an email as part of the setup procedure. It will next send two text messages containing a couple of activation codes.
The activation code should reach you within 5 to 10 minutes. Once you have finished the whole process, you can log in to your account and get all the information that is available in the IRS letter mailed along with the stimulus check.
You might not get the information you seek in your account on the IRS website. Officials have said that it will get updated in the coming days.
Keeping Track Of The IRS Letter In Your Mail
The best way to keep track of the letter accompanying your stimulus check is through the US postal service free tool. You will get regular updates of mail till it reaches you.
The letter sent by the IRS has legal weightage and you should carefully preserve them for various reasons.
This letter is official proof that you have received or should receive one or more stimulus checks. So you can always claim your payment by showing the official letter.
The letter can also help you determine whether to claim a plus-up payment or a Recovery Rebate Credit. The letter will be vital when you file your 2021 returns next spring.