Taxes may feel like a burden, but they also come with some surprising benefits—especially for those who stay on top of their filings. A perfect example is the IRS’s recent announcement about unclaimed stimulus payments. Many taxpayers who filed their 2021 returns missed out on the Recovery Rebate Credit, and the IRS is stepping in to help.
Eligible Taxpayers
The IRS reviewed its records and found that a significant number of taxpayers qualified for the Recovery Rebate Credit but didn’t claim it. This credit is a refundable amount for those who didn’t receive one or more of the Economic Impact Payments (EIPs), commonly known as stimulus checks.
To correct this, the IRS planned to issue automatic payments at the end of 2023 to eligible taxpayers who overlooked the credit. That means some people may have already received their money, while others should check their bank accounts or mailboxes.
Claim the Stimulus Payment
Yes! Even if you didn’t file a 2021 tax return, you still have time to claim your stimulus payment. The deadline to file and claim the Recovery Rebate Credit is April 15, 2025. That’s right—you have more than a year left to get your money.
If you qualify and haven’t received the payment automatically, filing a 2021 tax return is the key to unlocking your missing stimulus funds.
Who Qualifies?
The good news is that most eligible taxpayers have already received their stimulus payments. However, if you think you missed out, you should check if you meet the criteria:
- You did not receive one or more of the Economic Impact Payments in 2021.
- You meet income and filing requirements based on IRS guidelines.
- You are a U.S. citizen or resident alien with a valid Social Security number.
The maximum Recovery Rebate Credit amount is $1,400 per person, so if you qualify, that’s extra cash waiting for you.
No Need for an Amended Return
Normally, if a taxpayer forgets to claim a credit, they have to file an amended tax return—a process that can be tedious. But this time, the IRS is handling the adjustments automatically for eligible individuals. This means most people won’t need to take extra steps to get their money.
However, if you didn’t file your 2021 tax return at all, you must file before the April 2025 deadline to claim your credit.
What Should You Do Next?
If you believe you’re eligible for the Recovery Rebate Credit but haven’t received it yet, here’s what you can do:
- Check Your Mail & Bank Account – The IRS started issuing automatic payments in late 2023. Some payments may still be on the way.
- Review Your 2021 Tax Return – If you filed a return but didn’t claim the credit, you might already be getting a payment.
- File a 2021 Tax Return If You Haven’t Already – You can still claim the credit if you file by April 15, 2025.
- Use the IRS “Get My Payment” Tool – This can help you track your payment status and confirm if you received it.
The IRS is making this process as smooth as possible, so don’t miss out on money that’s rightfully yours. A little effort now could put up to $1,400 back in your pocket!
FAQs
Who qualifies for the Recovery Rebate Credit?
Anyone who did not receive one or more Economic Impact Payments and meets IRS requirements.
How much is the Recovery Rebate Credit?
The maximum amount is $1,400 per eligible person.
Do I need to file an amended return?
No, the IRS is issuing automatic payments where possible.
What if I never filed a 2021 tax return?
You must file by April 15, 2025, to claim the credit.
How can I check my payment status?
Use the IRS ‘Get My Payment’ tool or check your bank account.
