If you haven’t received your third stimulus payment or received only a portion of one and believe you are entitled to more, the IRS gives you another chance to claim it—but time is running out.
The IRS announced in January that all third stimulus payments had been made. However, some individuals may still be able to claim the amount on their 2021 tax returns. The deadline to file your taxes for the year 2021 is April 18.
As part of the American Rescue Plan Act, more than 175 million third stimulus payments totaling more than $400 billion started in March 2021.
How to Claim the Third Stimulus Payment You Didn’t Get on Your 2021 Tax Return.
You’ll need to claim the Recovery Rebate Tax Credit on your 2021 tax return to request any missed third stimulus payments.
This is the situation if you only received a portion of the stimulus payment (less than the entire $1,400) or if you didn’t previously qualify for the third stimulus payment.
Let’s pretend you’re single and your income for the 2020 and 2019 tax years is more than the threshold (which we’ll go over later). However, in 2021, you lost your work, and your income plummeted. Since your wages fell below the threshold, you can now claim the Recovery Rebate Tax Credit.
Families that have additional dependents (for example, having or adopting a kid) may also be eligible for the credit.
Furthermore, a few lingering individuals who use ITINs to file their taxes may not have received payments for their qualified dependents with Social Security numbers.
The Recovery Rebate Tax Credit worksheet must be completed and submitted with your 2021 tax return. You should be guided through the procedure if you utilize tax software. Remember that the IRS has projected a stressful and slow tax season this year, so file as soon as possible.
You must know the amount of any third stimulus payments you, your spouse, and any dependents received before completing the spreadsheet. The worksheet will also ask for your adjusted gross income (AGI) for the year to assess your eligibility.
Check your IRS online account or utilize the Get My Payment app if you’re not sure how much your third stimulus payment will be. You can also lookup the third stimulus payment amount for 2021 on your IRS Notice 1444-C, which is a letter provided to recipients by the IRS.
In January, the IRS began distributing Letter 6475 to filers, certifying the entire amount of the third stimulus payments received for the tax year 2021.
You’ll need to declare your correct recovery rebate credit amount on line 30 of your 2021 tax return once you’ve determined it.
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The Recovery Rebate Tax Credit will either lower any taxes owing or raise your tax refund, unlike direct stimulus payments made directly by the federal government to qualified people.
If You Can’t Find Your Stimulus Check, What Should You Do?
If your IRS online account indicates that you should have gotten a stimulus payment but didn’t, it’s possible that it was misplaced in the mail. Alternatively, you may have discarded the prepaid debit card you were given.
You can ask the IRS to track down your stimulus check if you’ve misplaced it or fear it’s been stolen. If the IRS decides that your review was not cashed, a credit will be issued to your account. It won’t be able to resend your payment, but you can use the Recovery Rebate Tax Credit worksheet to claim it on your 2021 tax return.
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If the IRS conducts a trace and concludes that the check was not cashed, the amount will be credited to your account. On the other hand, the IRS is unable to reissue your payment. Instead, you must claim the 2021 Recovery Rebate Credit on your 2021 tax return if you are eligible.
If you misplaced your EIP card, a prepaid debit card on which some people got their stimulus payment, you could request a replacement from card provider MetaBank.
Who is eligible for the third round of stimulus payments?
You are generally eligible for the entire third stimulus payment if you are a U.S. citizen (or U.S. resident alien) who is not a dependent of another taxpayer. Furthermore, your adjusted gross income (AGI) can’t be more than:
- $150,000 if married couples file jointly
- $112,500 for household heads
- For single filers, $75,000 is available.
If your income exceeds the levels, you may be eligible for a partial payment. You will, however, not be paid until your AGI is at least:
- $160,000 if married couples file jointly
- $120,000 for household heads
- For single filers, $80,000 is available.
The third stimulus payment is $1,400 per person ($2,800 for married couples filing jointly) plus an extra $1,400 for each qualified dependent.
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