Stimulus Check News: Why Is The 6475 IRS letter Important For The Tax Refund

Stimulus Check
Stimulus Check

The IRS sent multiple rounds of stimulus check payments during the year.

More than 175 million Americans received $1,400 for every eligible adult or child.

The IRS began issuing Letter 6475, Economic Impact Payment (EIP) 3 End of Year, in January 2022.

This letter helps EIP recipients determine if they’re eligible to claim the Recovery Rebate Credit stimulus check on their 2021 tax year returns.

This letter provides the total amount of the third Economic Impact Payment and any plus-up payments received for the tax year 2021.

For married individuals filing a joint return, each spouse will receive a letter showing half of the total amount.

Letter 6475 only applies to the third round of EIP issued between March 2021 and December 2021. This includes plus-up payments.

Who Received The Plus-Up Stimulus Checks?

If you received a third Economic Impact Payment based on a 2019 tax return or information received from Social Security Administration, Railroad Retirement Board, or Veterans Administration

If you were eligible for an additional amount based on their 2020 tax return

Most eligible people already received the full amount they are entitled to receive.

However, anyone who did not receive the full amount they are entitled to should review the payment information to determine whether they should claim the Recovery Rebate Credit for the tax year 2021.

For example, parents of a child born in 2021 – or parents and guardians who added a new qualifying dependent to their family in 2021 – did not receive a third-round Economic Impact Payment for that dependent and may be eligible to receive up to $1,400 for the dependent by claiming the Recovery Rebate Credit.

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