If you didn't get an extra stimulus check in 2021 called the Recovery Rebate Credit, you might have some money coming your way by the end of January. The IRS has said they're going to automatically send money to people who should have gotten the credit but didn't ask for it on their tax forms.
The boss of the IRS, Danny Werfel, realized that about one million people could have gotten this credit but didn't because it was too complicated.
Now, the IRS wants to make things easier by sending the money without making people do any extra paperwork.
What is the Recovery Rebate Credit Anyway?
The Recovery Rebate Credit is money the government gives to people who missed out on earlier stimulus payments.
If you did your taxes for 2021 and forgot to claim the credit or put zero dollars when you could have gotten something, keep an eye on your mailbox or bank account!
How Much Money Are We Talking About?
You could get up to $1,400. In total, the IRS is handing out $2.4 billion across the country.
What Do You Need to Do to Get Your Money?
If you're supposed to get this money, the IRS is taking care of everything. You don't have to do anything. They started sending the checks in December.
Most will arrive as direct deposits to the bank account you used on your 2023 taxes or as a paper check to your most current address by late January 2025.
Plus, they'll send you a letter telling you about the payment.
But What if You Haven't Filed Your 2021 Taxes Yet?
There's still a chance to get your stimulus check. Just file your 2021 taxes and claim the Recovery Rebate Credit before April 15, 2025.
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