Congress approved the third stimulus check about a year ago, but many recipients have yet to receive it. If you are one of them, you must act quickly because the time for claiming the third stimulus check is approaching. This deadline is actually for filing a 2021 income tax return, but it also applies to qualified people who did not receive the third stimulus payout or who may owe more money.
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When Do You Have To Claim Your Third Stimulus Check?
The American Rescue Plan authorized the distribution of up to $1,400 in stimulus funds to eligible taxpayers. The majority of these payments were made automatically, based on the taxpayers’ most recent federal tax forms on file at the time.
Those who don’t file their taxes regularly would have missed out on the third stimulus payment. There could be various reasons why they didn’t submit a tax return in past years, including a lack of revenue that prevented them from doing so. If they believe they are eligible for the third stimulus payment, they must file a tax return by April 18 to receive the payout.
“Like last year, there will be individuals filing tax returns who, despite not being compelled to do so, will need to submit a 2021 return to claim a Recovery Rebate Credit to get the tax credit from the 2021 stimulus payments or reconcile advance Child Tax Credit payments,” according to the IRS.
Anyone who received the third stimulus check but still owed money should file a tax return by April 18 to claim the remaining funds. If a taxpayer’s family size changes in 2021 or their income drop from the previous year, they may be entitled to additional money.
How Do You Get Your Third Stimulus Check?
Those who believe they are due additional money due to the third stimulus check must file a 2021 tax return by April 18, even if they do not usually file taxes. To receive their money from the third stimulus check, such people will need to apply for the Recovery Rebate Credit.
If the IRS determines that the taxpayer is entitled to more money, the additional funds will be credited to their tax refund or used to lower their taxes.
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To claim the Recovery Rebate Credit, the taxpayer will need the information provided by the IRS in a letter titled Letter 6475. The details of the third stimulus check are included in this letter, including the amount that a taxpayer would have received. If you don’t have such a letter, don’t panic; you can acquire all the information you need from your IRS online account.
Residents of Maine and Massachusetts receive an extra day to claim their third stimulus check or file their federal tax return, even though the deadline for other taxpayers is April 18. Those who cannot file their tax return by the April 18 deadline can automatically request a six-month extension.