In the month of December 2024, the Internal Revenue Service (IRS) sent out a reminder to around one million taxpayers who would be qualified for a special refund of up to $1,400.
Those individuals who did not file their tax return for the year 2021 are eligible for this benefit, and they still have the possibility to obtain the Recovery Rebate Credit until the 15th of April in the year 2025.
It does not matter if the taxpayer had a low or nonexistent income during the time period in question; they are required to file their tax return and then claim the credit in order to be eligible for this payout.
In addition, those who have already submitted their tax returns but are uncertain about the amount to which they are entitled can check by simply going into their online account with the Internal Revenue Service.
Taxpayers are encouraged to visit the Internal Revenue Service’s website in order to obtain additional information regarding the requirements and to study the frequently asked questions section that is associated with the 2021 Recovery Rebate Credit.
One million people will receive a refund automatically
The Internal Revenue Service discovered that approximately one million people had failed to claim this credit on their tax return for the year 2021.
As a reaction, the organization established a method that would automatically pay those individuals who were eligible, so eliminating the requirement that they submit further paperwork.
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Direct deposits were made to taxpayers who had a bank account that was registered on their 2023 tax return. Other taxpayers, on the other hand, received checks that were mailed to the address that they had provided to the Internal Revenue Service.
For further information on economic impact payments and the procedure of filing a claim, you can check your online account with the Internal Revenue Service (IRS) or visit their website. If you still have questions regarding your eligibility or the amount that you could receive, you can visit one of these locations.
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You may still be entitled to claim a Recovery Rebate Credit on your federal tax return for the year 2020 or 2021, even if you did not receive an Economic Impact Payment or if the amount was less than the entire amount that was the subject of your tax liability.
In a statement, the Internal Revenue Service (IRS) explained that these payments were distributed to different tax years, which means that the process for claiming them varies. “Depending on whether you did not receive the first, second, or third payment, you will need to file a 2020 or 2021 tax return to claim the Recovery Rebate Credit,” the agency said.
