US Stimulus Check 2022: What are the options to continue receiving payment?

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During the first 18 months of the pandemic, the federal government sent three rounds of stimulus checks to the majority of Americans in an effort to ease the financial burden of covid-19.

The IRS confirmed that it issued all first, second and third payments, also called Economic Impact Payments, but not all eligible people have received their payment. In some cases, the IRS did not have relevant information on file for certain low-income households and therefore was unable to make the payment.

Those who miss a payment, or who received less than their full entitlement, can claim a retroactive payment in the form of a clawback rebate credit on their 2020 or 2021 federal income tax return. for the 2020 and 2021 declarations have both passed, the tax agency gives filers up to three years from the due date of the return to file and receive a tax credit refund.

Mark Steber, Director of Tax Information at Jackson Hewitt, explains, “This means you can file and receive your recovery rebate credit until April 15, 2024.”

How can you apply for a salvage rebate credit?

If you haven’t yet filed a tax return for 2020 or 2021 and think you missed a stimulus check payment that was distributed in one of those tax years, it’s not too late to claim it. To do this, you will need to file a tax return with the IRSeven if your household income means you are generally not required to do so.

You can file an overdue tax return the same way you would before the deadline, either online or by mail.

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However, the IRS urges filers to take advantage of the online e-filing portalwhich will allow your returns to be processed faster and receive the recovery rebate credit as soon as possible.

When you do, remember that the first two stimulus checks were distributed in tax year 2020 and the third in tax year 2021. To trigger the payment, you will need to claim the missing payments on the tax return for the year in question.

You can use this mechanism to claim other unpaid tax credits that you may have missed, such as the earned income credit.

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