The IRS has announced that it will issue additional stimulus checks to eligible taxpayers who did not claim the full Recovery Rebate Credit on their 2021 tax returns.
If you meet the necessary requirements, you could receive up to $1,400 per person by filing your tax return before April 15, 2025.
This article will explain the key details, requirements, and steps needed to ensure you receive your stimulus check in a timely manner.
What is the Recovery Rebate Credit?
The Recovery Rebate Credit (RRC), commonly referred to as the third stimulus check, is a program implemented by the IRS to provide financial support to taxpayers.
If you missed out on receiving the full third Economic Impact Payment (EIP) in 2021, you may be eligible to claim the Recovery Rebate Credit when filing your 2021 tax return. The stimulus checks are meant to ensure that all eligible taxpayers receive the financial support they are entitled to.
Who is Eligible for the New Stimulus Check?
In order to qualify for the stimulus check, you must meet the following IRS criteria:
| Requirement | Eligibility Criteria |
|---|---|
| Valid Social Security Number | Must have a valid SSN for the taxpayer and any dependents |
| Dependents | The taxpayer must not have been claimed as a dependent on another person’s tax return |
| Income Limits | AGI: $75,000 (single), $112,500 (head of household), $150,000 (married, filing jointly) |
| Income Level | Taxpayers with little or no income may still qualify for the stimulus check |
| Deceased Individuals | If the individual passed in 2021 or 2022 but did not receive the third Economic Impact Payment, they may still be eligible |
The amount of the Recovery Rebate Credit begins to decrease for those with higher adjusted gross income (AGI), but many low-income taxpayers still qualify for the full credit.
Even individuals who passed away in 2021 or 2022 but missed out on the third EIP may be eligible for this credit.
How to Get the Stimulus Check?
To receive your stimulus check, you must file a 2021 tax return, even if you aren’t typically required to file one. Filing your tax return ensures that the IRS knows you are eligible for the Recovery Rebate Credit.
Steps to File for the Stimulus Check:
- File a 2021 Tax Return: Use the IRS Free File program for a free and simple way to prepare and file your electronic return. Ensure you include all necessary information to claim the Recovery Rebate Credit.
- Direct Deposit: Opt for direct deposit to a bank account, prepaid debit card, or mobile app for the fastest payment processing.
- File by April 15, 2025: The deadline to file your 2021 tax return and claim the Recovery Rebate Credit is April 15, 2025. Filing early ensures you get your stimulus check without delay.
- No Need for an Updated Return: If you made a mistake when calculating the credit on your 2021 tax return, the IRS will automatically correct it and send you a notice of any changes. No action is needed unless you need to file an amended return.
Why Should You File by April 15th?
The deadline of April 15, 2025 is crucial for ensuring that you receive the Recovery Rebate Credit. If you miss the deadline, you may not be eligible to receive the stimulus check.
Filing early reduces the chances of payment delays and ensures you claim any refunds you are entitled to.
If you missed out on receiving the full third stimulus check in 2021, the IRS is offering a final opportunity for eligible taxpayers to claim the Recovery Rebate Credit by filing their 2021 tax return before April 15, 2025.
By meeting the eligibility requirements and filing on time, you can receive the financial support you are entitled to.
Remember to file your taxes electronically, choose direct deposit, and ensure your return is filed before the deadline to avoid any delays in receiving your stimulus check.