US Citizens Who Missed Stimulus Check Payments Still Have a Chance to Claim the Funds; Here’s How

In 2020 and 2021, about $931 billion was issued by the U.S. government in stimulus checks to help Americans get through the worst days of the COVID-19 pandemic. However, as of last year, the IRS was holding up about $1.5 billion in unclaimed funds which averaged at $893, according to the IRS. Several citizens have not yet claimed these funds which are still available to them in the form of tax rebates. However, these funds are set to disappear this spring, and this might be their last chance to claim. Citizens who did not file taxes for 2020 and 2021 and missed stimulus checks or received partial payments can still claim a Recovery Rebate Credit.

Who is eligible for the recovery rebate credit?

The eligibility and income requirements for the recovery rebate tax credit are the same for the stimulus payments. Thus, people who were eligible for stimulus payments but did not or partially receive them are eligible to claim the credit. Those who misplaced their stimulus checks or do not have a social security number are not eligible for the rebate.

How to check the amount/status of stimulus payments?

To find the amount of the stimulus payments, citizens can check their IRS online account or one of the mailed notices for the three payments that the IRS sent with the amounts of the payments. The notices to look for are Notice 1444, Notice 1444-B and Notice 1444-C. In case, eligible citizens don’t have these notices, they can create an online account with the IRS to verify the payments. To create a new IRS.gov account, applicants will be required to register with ID.me first. For those who opted for the payments to be directly deposited, they can find the amount of their first, second, and third stimulus checks by looking at their bank statements as well.

Here’s how to claim the Recovery Rebate Credit

To claim the Recovery Rebate Credit, applicants will need to simply file the taxes for the years they missed. Further, all eligible applicants will need to file their recovery rebate worksheet and their 2020 or 2021 federal tax return. Most tax preparation software can guide applicants through the worksheet.

Applicants will also need to complete the IRS Form 1040 and all the other required forms and schedules. These forms need to be printed and properly addressed to the specific regional IRS center listed on the last page of this year's IRS Form 1040 instructions. Applicants can also order a free wage and income transcript from the IRS and use the information to file the tax return and rebate application. People who are filing for 2020 may face a penalty in case they owe taxes that year. In case they did not owe taxes, there will be no penalty for filing late.

What is the deadline to claim a tax rebate?

The IRS is required to hold on to unclaimed income tax refunds for three years, according to Forbes. Thus, people who missed all or part of their stimulus check payments in 2020 and didn't file their 2020 tax return, have until May 17, 2024, to claim the rebate. Further, people who missed 2021's stimulus check and didn't file their 2021 return can file their return until April 15, 2025, and claim the missing money.