Latest news with #EconomicImpactPayments
Yahoo
15-04-2025
- Business
- Yahoo
April 15 is deadline for some to claim $1,400 IRS stimulus check. Here's who's eligible.
The window for certain Americans to claim a bonus check from the IRS will close by end of day on April 15. The Internal Revenue Service announced in December that about $2.4 billion in stimulus checks − worth up to $1,400 per individual − would be distributed to eligible U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns. Payments were automatically sent out earlier this year to qualifying individuals who filed their 2021 tax returns, but over $1 billion in refunds were still unclaimed due to individuals who had not filed their 2021 tax returns yet, the agency said April 11. The IRS previously found more than 1 million eligible taxpayers failed to claim the Recovery Rebate Credit, a refundable credit for individuals who did not receive one or more Economic Impact Payments also known as stimulus checks, when filing their returns in 2022. Here's what to know about the $1,400 payment, including details on whether or not you may be eligible to claim it. Individuals who are eligible for the Recovery Rebate Credit but have not yet filed a 2021 tax return have until April 15, 2025, to file and receive the payment. (April 15, 2025, is also the deadline to file your 2024 tax returns.) The IRS said 1.1 million people had not filed their 2021 tax returns and could be eligible for the payment of up to $1,400. Eligible individuals must file a tax return to claim a Recovery Rebate Credit, even if their income from a job, business or other source was minimal or non-existent. The Recovery Rebate Credit was created to compensate individuals who did not receive one or more stimulus checks during the COVID-19 pandemic. The IRS previously issued three rounds of stimulus payments throughout the COVID-19 pandemic, which means most eligible individuals have already received stimulus payments and won't be eligible to claim the RRC. Those who did not receive the full amount of the third stimulus check, sent in March 2021, may be eligible for the Recovery Rebate Credit on their 2021 tax return. The agency has previously urged taxpayers not to include information about the first two checks sent in 2020, nor the 2020 Recovery Rebate Credit, on their 2021 tax returns. The IRS has been issuing the special batch of payments to those who were eligible for Recovery Rebate Credit but did not claim it on their 2021 tax return or failed to file taxes for 2021. The deadline to file the 2021 return in hopes of receiving the payment is April 15, 2025. Those who did not claim the credit but did file their 2021 tax returns should have automatically received their payments in December 2024 or January 2025 without taking any action. Taxpayers can check if they claimed this credit by looking at their 2021 tax return and checking if they left the Recovery Rebate Credit field blank or filled it out as $0. To see which stimulus checks, or Economic Impact Payments (EIP), you may have received, the IRS encourages you to sign in to your online account and check the 'Economic Impact Payment Information' section on the "Tax Records" page. Payments were sent to eligible taxpayers automatically starting in December 2024 and continued through late January 2025. Eligible taxpayers would have also received a letter notifying them of the payment, and the payments were either automatically direct deposited or sent by paper check. Taxpayers who did not file a 2021 tax return may still be eligible for the check if they file their return and claim the Recovery Rebate Credit by April 15, 2025. An eligible taxpayer may receive up to $1,400, according to the IRS. The stimulus amount is dependent on your adjusted gross income. In order to qualify for the full $1,400, the taxpayers' annual income must not have been more than $75,000 for single filers or $150,000 for married couples filing jointly. For additional information or questions about how the payment was calculated or how payment eligibility was determined, visit the IRS website. The payment will be sent to the bank account listed on the taxpayer's 2023 tax return or to the address of record. Contributing: Greta Cross, USA TODAY; Maria Francis, USA TODAY Network This article originally appeared on USA TODAY: Deadline is here to claim $1,400 IRS stimulus checks. Who qualifies? Sign in to access your portfolio
Axios
15-04-2025
- Business
- Axios
Tax Day is IRS deadline to file for unclaimed stimulus checks
The Internal Revenue Service says more than $1 billion in stimulus payments are still unclaimed by 1.1 million people. Why it matters: April 15 is the deadline to file for the refunds that are part of $2.4 billion in stimulus payments related to 2021 COVID recovery relief payments. The payments are as high as $1,400 per individual but the amounts vary. The big picture: If an eligible taxpayer does not file within the three-year window, the money goes to the U.S. Treasury, the IRS said. Some people received their refund or stimulus payment automatically in December or January. IRS stimulus check eligibility Context: The payments are for taxpayers who didn't receive the Recovery Rebate Credit in 2021. The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments or stimulus checks. To be eligible for the credit, 2021 adjusted gross income had to be below $80,000 if filing as a single filer and under $160,000 if filing jointly, per the IRS. By the numbers: 102,200 people in Texas are eligible for $94.8 million, 116,300 people in California are eligible for $92.3 million and 73,000 people in New York are eligible for $72.5 million. See the IRS state-by-state breakdown of who might be due a 2021 refund and the average payment here. $1,400 stimulus checks: Payment amounts vary Zoom in: The IRS said payments vary depending on several factors, but the maximum payment is $1,400 per individual. File 2021 returns for stimulus money by Tuesday night Between the lines: The IRS says "there is no penalty for claiming a refund on a late-filed tax return."
Yahoo
14-04-2025
- Business
- Yahoo
Stimulus checks 2025: Who's eligible for $1,400, how to claim it before IRS deadline
Over one million Americans have still not received their $1,400 stimulus checks from the federal government. It's not too late for those who qualify — ahead of the April 15th tax deadline. The Internal Revenue Service started sending out approximately $2.4 billion to 1 million taxpayers back in December for Recovery Rebate Credit checks that hadn't been claimed yet. However they estimate another 1 million taxpayers are still missing out on $1 billion in stimulus, simply because they haven't filed their 2021 income taxes. April 15th is Tax Day for 2024 returns, but it also marks a three-year deadline to claim any tax refunds or in this case, the $1,400 Recovery Rebate Credit for that year, 2021. Here's what to know about the stimulus and if you qualify for it. More: Where is my refund? Dates to know, how to find your tax refund before the deadline Taxpayers in the U.S. who didn't file or claim the Recovery Rebate Credit on their 2021 tax return are qualified to apply for it. The refundable credit was for taxpayers who didn't get one or more Economic Impact Payments (or stimulus checks) during the COVID-19 pandemic. The stimulus amount is dependent on your adjusted gross income. In order to qualify for the full $1,400, the taxpayers' annual income must not have been more than $75,000 for single filers or $150,000 for married couples filing jointly. If you filed your previous tax returns, then you don't have to do anything but wait for the IRS to mail a check or use direct deposit into the last bank account provided in the 2023 tax return. They will notify you of such in a separately mailed letter. However, if you have not filed a 2021 tax return to date, then you have until April 15, 2025, to file back-year returns. The IRS has a three-year deadline to claim a refund on tax returns. This article originally appeared on Oklahoman: $1,400 stimulus checks deadline: Are you eligible for stimulus payment?
Yahoo
12-04-2025
- Business
- Yahoo
Over 1 Million Americans Can Still Claim $1,400 Recovery Rebate Credit By 2025 Deadline: Here's How
American citizens who did not claim their Recovery Rebate Credit in 2021 have until April 15 to file their taxes and claim up to $1,400 from the Internal Revenue Service (IRS). The agency began issuing payments in December 2024 to those who were eligible but did not claim the credit, reserved for individuals who did not receive one or more stimulus checks during the COVID-19 pandemic. Eligibility and Automatic Payments: The IRS has identified more than 1 million taxpayers who missed claiming the credit. To qualify, individuals need to file their 2021 tax return and claim the credit. Automatic payments are made to those who filed their returns correctly. If you are not sure whether you claimed the credit, you can check your 2021 return or review the Economic Impact Payments on the IRS website. Deadline and Filing Requirements: Taxpayers should be aware that they are required to file their returns by the April 15 deadline if they wish to receive the payment. The IRS will send notifications to eligible individuals by mail about the payment, and the money will either be sent via direct deposit or a paper check. Turmoil In The IRS The IRS dismissed thousands of probationary workers during peak tax season, a move that was challenged but then reinstated after a Supreme Court ruling, leading to concerns about refund delays and data security. Meanwhile, Social Security Commissioner Michelle King resigned after disagreeing with the Department of Government Efficiency (DOGE) over access to sensitive beneficiary data. At the same time, reports emerged that DOGE silently deleted or altered over 1,000 canceled contract listings, removing more than $4 billion in claimed savings. Despite increased scrutiny, DOGE has presented no direct explanation, instead blaming federal agencies for the mistakes. Read Next: Image via Shutterstock Send To MSN: Send to MSN Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Over 1 Million Americans Can Still Claim $1,400 Recovery Rebate Credit By 2025 Deadline: Here's How originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
10-04-2025
- Business
- Yahoo
Last chance for some Americans to claim $1,400 IRS check: Here's who's eligible, how to file
Are you eligible for a $1,400 payment? Some Americans are running out of time to claim it. The Internal Revenue Service announced in December it would be distributing about $2.4 billion − up to $1,400 per individual − worth of payments to eligible U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns. According to the IRS, this round of payments was established after the agency reviewed internal data showing that many eligible taxpayers who filed a 2021 tax return did not claim the Recovery Rebate Credit, a refundable credit for individuals who didn't receive one or more Economic Impact Payments, more commonly known as stimulus payments. Here's what to know about whether you are eligible for the payment with the deadline just a few days away on April 15. The Recovery Rebate Credit was created for individuals who did not receive one or more stimulus checks during the COVID-19 pandemic, also known as Economic Impact Payments, the IRS said. Beginning in December 2024, the IRS has been issuing special payments to those who were eligible for a Recovery Rebate Credit but did not claim it on their 2021 tax return. Those who did not receive the full amount of the third stimulus check, which was sent in March 2021, may be eligible for the Recovery Rebate Credit on their 2021 tax return, the IRS has said. If you're wondering about the first two stimulus checks (which were sent in March 2020 and December 2020), the agency has previously urged taxpayers not to include information about those checks, nor the 2020 Recovery Rebate Credit, on their 2021 tax returns. Americans who were eligible to claim the credit but did not file their 2021 tax return can still receive the payment, but only if they file their 2021 return by April 15, 2025. Eligible taxpayers who filed their 2021 tax returns but did not claim the Recovery Rebate Credit are also eligible, but these taxpayers should have automatically received their payments in December 2024 or January 2025 without taking any action, according to the IRS. Taxpayers can check if they claimed this credit by looking at their 2021 tax return and checking if they left the Recovery Rebate Credit field blank or filled it out as $0. To see which stimulus checks, or Economic Impact Payments (EIP), you may have received, the IRS encourages you to sign in to your online account and check the 'Economic Impact Payment Information' section on the "Tax Records" page. According to the IRS, more than 1 million taxpayers in the U.S. didn't claim the Recovery Rebate Credit on their 2021 tax return despite being eligible. Individuals who are eligible for the Recovery Rebate Credit but have not yet filed a 2021 tax return have until April 15, 2025 to file and receive the payment. (April 15, 2025 is also the deadline to file your 2024 tax returns.) Eligible individuals must file a tax return to claim a Recovery Rebate Credit, even if their income from a job, business or other source was minimal or non-existent, according to the IRS. The IRS said payments would automatically be sent out beginning in December 2024, and continuing through late January 2025. The IRS said eligible taxpayers would receive a letter notifying them of the payment, and the payments will either be automatically direct deposited or sent by paper check. Taxpayers who did not file a 2021 tax return may still be eligible for the check if they file their return and claim the Recovery Rebate Credit by April 15. 'A crown jewel': Salinas celebrates the start of a $10M park renovation An eligible taxpayer may receive up to $1,400, according to the IRS. The stimulus amount is dependent on your adjusted gross income. In order to qualify for the full $1,400, the taxpayers' annual income must not have been more than $75,000 for single filers or $150,000 for married couples filing jointly. Contributing: Maria Francis, USA TODAY Network Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@ Greta Cross is a national trending reporter at USA TODAY. Follow her on X and Instagram @gretalcross. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: $1,400 IRS checks: Last chance for some to claim stimulus payment Sign in to access your portfolio
