The IRS has clarified that while the window to claim stimulus funds for 2023 has closed, there’s still an opportunity to claim up to $2,400 in 2024.
The 2024 tax return must be filed by qualified American taxpayers in order to receive these potential stimulus cheques.
Tax Filing Deadline Extension
To ensure accessibility for everybody, the IRS highlights that the entire process can be performed online or by mail. There is still time for individuals who haven’t submitted their 2020 tax forms to be eligible for the COVID stimulus payment before the Recovery Rebate Credit deadline of April 15th.
Citizens who meet the requirements can file their taxes until April 15, 2025. People are urged to check their records as soon as possible because they can be qualified for a tax refund by May 17, 2024.
Individuals must be US citizens, holders of green cards, or qualifying noncitizen residents with a valid Social Security number in order to be eligible for the Recovery Rebate Credit.
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IRS Recommendation for Direct Deposit
Furthermore, they cannot be claimed as a dependent by another taxpayer. It is also feasible to submit a claim for the credit on behalf of a deceased individual who dies away in 2020 or later. To expedite payments, the IRS suggests utilizing direct deposit.
Tax Counseling for the Elderly and Volunteer Income Tax Assistance are two more initiatives that qualify qualifying taxpayers for free tax filing services.
However, it’s important to note that undocumented individuals without a Social Security number are ineligible for Emergency Income Payments under the American Rescue Plan Act. This exclusion highlights systemic racial disparities and limits aid accessibility for undocumented individuals.
In conclusion, eligible taxpayers must keep themselves updated regarding deadlines and eligibility requirements in order to guarantee they receive the support they are entitled to, even if the federal government is still awarding Economic Impact Payments (EIPs) as part of COVID-19 relief efforts.
There are continuous advocacy initiatives to address aid gaps and advance fairness in the delivery of relief.
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