Here’s What to Do if Your $1,400 Stimulus Check Never Arrived?
Parents rely heavily on stimulus funds introduced into law in March 2021. As a part of the $1.9 trillion American Rescue Plan, millions of parents got stimulus cheques from the Internal Revenue Service, ranging from $600 to $1,400 per (IRS). If you haven’t received your final $1,400 stimulus check, it’s not too late to apply for one. Here are the steps to take.
Over 171 million payments up to $1,400 were given by the IRS in July, amounting to $400 billion. The IRS was supposed to finalise these stimulus payments by December 31, 2021, and send them to eligible recipients. But even if you qualify, you may have been overlooked, and if that was the case for you, your money is still there — you only need to know how to apply for it.
For those who didn’t receive their payment or received less than they were entitled to, the Recovery Rebate Credit can be claimed on your 2021 tax return. To obtain your $600 stimulus payout in March of 2021, you already know how to accomplish this. The only exception is if this is the first stimulation check you’ve ever missed.
A Recovery Rebate Credit application requires that you list any stimulus funds received this year, if any. If you didn’t receive the whole amount, we need to know how much you should have received. What if you don’t pay your taxes? The IRS advises you should continue to do this. Actually, even if you don’t regularly file a tax return, the IRS says that if you’re eligible, you must file a 2021 tax return.
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Your 2021 stimulus payment was calculated based on your 2019 or 2020 tax filings. Depending on your income and the number of children you have, you may be eligible for additional financial assistance. If you pay more than you owe, the difference will be deducted from your account, applied to any unpaid taxes, or refunded to you as a refund.
Again, the Letter 6475 comes in handy. The Internal Revenue Service (IRS) will send a letter outlining the amount of money you received in 2021, regardless of whether you received stimulus money or the Child Tax Credit.
Keep a look out for that letter, and if you have any questions, you can use the IRS portal.