The goal of these payments is to help people who did not claim the Recovery Rebate Credit (RRC) on their 2021 tax returns. Here’s everything you need to know about these payments, such as who is eligible, how they will be sent, and how you can keep track of them.
Eligibility Criteria
The special payments target taxpayers who filed their 2021 tax returns but either left the Recovery Rebate Credit field blank or entered $0, despite being eligible for the credit. To qualify, individuals must meet the original eligibility requirements for the third round of stimulus payments:
- An adjusted gross income (AGI) of $75,000 or less for individuals, $112,500 or less for heads of household, and $150,000 or less for married couples filing jointly.
- U.S. citizenship or residency requirements.
If you didn’t file a 2021 tax return but believe you are eligible, you have until April 15, 2025, to file and claim the credit.
Payment Details
The IRS will send payments automatically, so taxpayers who are eligible do not need to do anything. Each person can get up to $1,400, but the amount may change based on their income and filing status. The following payments are being made:
- Direct Deposit: Sent to the bank account on file with the IRS.
- Paper Checks: Mailed to the address on record for those without direct deposit information.
The rollout began in December 2024, and most people should get their payments by the end of January 2025.
Tracking Your Payment
The IRS used to have a tool called “Get My Payment” that could be used to keep track of EIPs, but it is no longer accessible. However, taxpayers can log in to their online IRS accounts and look at their payment history under “Tax Records.” This account also has a record of all the EIPs that the taxpayer has received, which helps them make sure they are eligible.
Addressing Common Questions
1. What if I didn’t receive the payment? If you’re eligible and don’t receive your payment by January 2025, check your IRS online account to confirm your information. Contact the IRS directly if discrepancies persist.
2. Can I still claim past stimulus payments? Yes. The Recovery Rebate Credit allows you to claim any missed stimulus payments when filing your 2021 tax return. The deadline for claiming these credits is April 15, 2025.
3. How will I know if I’m eligible? The IRS is sending letters to notify eligible taxpayers. These letters will outline the payment amount and method of distribution.
Beware of Scams and Misinformation
There have been a lot of false claims on social media sites about the new stimulus payments. The IRS has made it clear that these $1,400 payments are only for people who missed the 2021 Recovery Rebate Credit. Be wary of messages or emails you did not ask for that claim to offer extra stimulus funds. For correct information, always trust official IRS communications or go to irs.gov.
Final Thoughts
Taxpayers who missed the third round of stimulus checks will get their money back thanks to the IRS’s decision to send these special payments. You can still file your 2021 tax return and claim the Recovery Rebate Credit if you think you are eligible but have not yet. Quickly act to get the financial help you are entitled to.
Also See:- SSI Payments – Find out if you will receive $484, $967 or $1,450 on your next deposit