Nobody likes to throw money away, especially a stimulus check from the United States that they were eligible for but did not get.
All third-round stimulus checks (formally known as economic impact payments, or EIPs) were paid out in late January, according to the Internal Revenue Service. However, the IRS pointed out that not all eligible Americans got the entire amount due to them. The American Rescue Plan Act of 2021, which was signed into law on March 11, 2021, allowed the third wave of stimulus funds, which were paid from March through December last year. Round 3 of the stimulus checks allowed taxpayers to claim a maximum credit of $1,400 per adult, including all qualified dependents stated on a tax return.
File For Your Missed Stimulus Check
Depending on income restrictions, a couple with 2 eligible dependents may be entitled to a maximum credit of $5,600. Provided you had a baby last year, you can submit for up to $1,400 in back taxes owing to you for your new family member if you identify the kid as a dependant.
For single filers with an adjusted gross income (AGI) of more than $75,000 and married couples joint filers with earnings of more than $150,000, the credit is decreased in magnitude. The credit for heads of a family is lowered between $120,000 and $112,500.
Individuals with an AGI of more than $80,000 and married couples filing jointly with an AGI of more than $160,000 lose the credit completely. Household heads with earnings of more than $120,000 are likewise exempt from the stimulus package. According to the IRS, most qualified Americans have already received their payouts. You will need to claim the 2021 Recovery Rebate Credit on your 2021 tax return to obtain your money.
Electronic filing can assist you in completing the form. The rebate credit is not deducted from your taxable earnings. Also, to avoid a delay in your tax return processing, make sure you fill out your tax return completely and include the exact amount of stimulus payments the IRS has issued you (including your third-round stimulus check and plus-up payments).