Millions of Americans who may still be entitled to $1,400 stimulus checks and unique tax credits worth hundreds more are being contacted by the IRS.
According to the IRS, certain taxpayers who did not get the third federal stimulus check are now eligible to receive a Recovery Rebate Credit payment. These stimulus payments began to be distributed in March 2021, offering qualified recipients up to $1,400 each.
The IRS stopped sending these checks formally last year, but qualified individuals who did not get one may still be able to obtain what they are entitled to by getting a tax refund or by paying less in taxes. People who acquired a dependant or had a decline in their income in 2021 are among those who may qualify for the third stimulus check.
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In a news release on Thursday, the IRS stated that letters will be sent to 9 million people in the coming weeks to inform them that credits are available. The recipients will be persons whose low income usually exempts them from filing tax returns.
The IRS is reminding Americans to submit their 2021 tax returns in the new letter, which is a requirement for those who are qualified to claim stimulus check payments and other credits. You probably already utilized these tax credits and payments if you had filed your taxes for 2021. According to the government, those who did not submit tax returns in prior years may gain a lot by doing so in 2021. The American Rescue Plan Act and other pieces of legislation extended several tax credits, and this is the only method to guarantee both the rebate credit and those additional tax credits.
Many of the people who will be getting letters in the coming weeks are qualified for the Child Tax Credit or the Earned Income Tax Credit, according to the IRS.