January 21, 2022

Didn’t get the last stimulus check? There’s still time to claim it

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If you didn’t get the last stimulus check, don’t despair.

You still have time to claim the money if you qualify.

A third round of stimulus payments was sent to Americans as part of the $1.9 trillion US bailout plan signed in March 2021. As of that month, millions of Americans and their dependent children received up to $1,400 as part of the Covid-19 pandemic relief. .

In July, the IRS had more than 171 million payments to Americans totaling $400 billion.

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The IRS had until December 31 to mail the checks to the eligible individuals. If you still haven’t received your payment, or have received less than you were eligible for, you can claim the money on your 2021 tax return using the Recovery Discount Credit.

“If you qualify, you must file a 2021 tax return, even if you don’t usually file a tax return,” the IRS said in a statement.

How to Claim the Recovery Discount Credit

If you think you qualify for the Credit for recovery discount, you must show how much stimulus money you may have received in 2021 and how much you should have sent by the IRS.

To help you with this calculation, the agency will send a notice, Letter 6475, to people who received 2021 economic impact benefits. The letter will state how much money you received, including any “plus-up” payments sent during the year.

This information is necessary to determine how much money you will receive using the IRS Form 1040 Recovery Rebate Credit Worksheet or an online tax software program.

Because eligibility for the 2021 incentive checks was determined using the 2020 or 2019 tax returns, you could get more money if you had a drop in income and didn’t receive the full amount you owed. The extra money will either be applied to the taxes due, which will lower your bill, or it will be returned to your refund.

If you have a child that was born in 2021, you can also claim the incentive check with the Recovery benefit. You may also be entitled to the full child discount if you didn’t get the monthly advance payments that started in July.

Who is eligible?

Income amounts to receive incentive benefits have changed in 2021.

Before the final stimulus check, the full amount went to those with adjusted gross incomes of $75,000 or $150,000 for those who were married and applying jointly.

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