January 18, 2022

Stimulus check not showing up? This is what you need to do

This much parents relied on the incentive payments signed into law in March 2021. As part of the American Rescue Plan, a $1.9 trillion package, millions of parents received incentive checks — three separate checks that ranged from $600 to $1,400, distributed by the Internal Revenue System (IRS). These stimulus checks made a big difference in the lives of families as the pandemic continued, and while the hope for a 4th is just that: blind hope, if you never received your last $1,400 stimulus check, it’s not too late. Here’s what to do.

By the time July came around, the IRS had made more than 171 million payments to $1,400, which worked out to $400 billion. These incentive payments had to be completed by the IRS by December 31, 2021 and sent to eligible recipients. However, there are some Americans who were skipped even if they qualified, and if that was you, your money isn’t gone – you just need to know how to ask for it.

According to CNBCIf you have not received your payment or have received less than what you were eligible for, you can claim the missing money on your 2021 tax return using the Recovery Rebate Credit. For example, if you used this to get your $600 incentive check in March 2021, you already know what to do. But if this is the first stimulus check you’ve ever missed, read no further.

To be eligible for the Recovery Rebate Credit, you must declare all of the incentive money you received this year, if any. You should also know how much you should have received if you had not received the full amount. And if you do not file a tax return? You still need to do this, the IRS says. In fact, “If you qualify, you’ll need to file a 2021 tax return even if you don’t usually file a tax return,” the IRS said in a statement.

The amount you received for the 2021 incentive is determined from the 2019 or 2020 tax returns. This means that you may be eligible for more money if your income falls or if you have another child that year. Those additional payments are either applied to reduce your bill, applied to taxes due, or refunded in your refund.

And that’s true that Letter 6475 comes in again. Anyone who has received IRS payments in 2021, whether that be the incentive money or the Child Tax Credit, will receive a letter from the IRS stating how much money you received this year.

Keep your eyes peeled for that letter and contact the IRS portal if you have any questions about your particular situation.

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