IRS Warns Time Running Short for People to Claim COVID-Era Tax Credit Some May Have Missed Out On

Contact Your Elected Officials
The Epoch Times Header

To claim the recovery rebate credit, eligible taxpayers must file a tax return even if they made little or no income.

The Internal Revenue Service (IRS) has warned about a looming deadline for people to claim a pandemic-era tax break they may have missed, potentially entitling them to unclaimed COVID cash.

The IRS said in a March 4 announcement that some eligible individuals didn’t end up collecting economic impact payments—also known as stimulus payments or stimulus checks—that were issued in 2020 and 2021.

Those who missed out can still collect the money—and the way to do so is through what’s known as the recovery rebate credit.

This is a refundable credit that either reduces the amount of taxes owed, is included in a tax refund, or is simply paid out by the IRS to eligible taxpayers if—after claiming the credit—it turns out they overpaid on their taxes.

In order to claim the recovery rebate credit, eligible taxpayers must file a tax return even if they made little or no income from a job, business, or other source.

The deadline to file a tax return and claim the 2020 credit is May 17, 2024. Taxpayers who are eligible to claim the 2021 credit must file a tax return by April 15, 2025.

Who Is Eligible?

While the vast majority of those eligible for COVID-19-related relief have already received or claimed it, some people haven’t.

Others may have received less than the full stimulus payment they were entitled to. In their case, claiming a recovery rebate credit would top up to the full stimulus payment amount they’re entitled to.

In order to claim the 2020 and 2021 recovery rebate credits, a taxpayer must meet several criteria.

For the 2020 credit, they must have been a citizen of the United States or a U.S. resident alien in 2020. Also, they must not have been a dependent of another taxpayer for 2020, and they must possess a valid Social Security number issued before the due date of the tax return that is valid for employment in the United States.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

This Is America: Target™ Reparations

“This Is America” explores the cultural undercurrents pulling Western...

Blind Man’s Shutdown

Congress is playing the equivalent of Bind Man's Bluff. With the shout “tag your it” they seek to blame the other party for the government shutdown.

A Reluctant Acknowledgment: What Conservatives Can Admire in Everyday Progressives

Admirable ideological qualities seen in liberals and left-wing individuals are those of the everyday believer not their political leadership.

Ensuring Domestic Tranquility

The Supremacy Clause in Article VI of the U.S. Constitution establishes it as the highest law of the land, taking precedence over conflicting state laws.

Is There a 9/11 WTC and 9/10 Charlie Kirk Connection?

Strange parallels in online stories raise questions about whether Israelis and Mossad intelligence are our allies or adversaries.

US GDP Could Take a Hit From Shutdown, Says Treasury Secretary Bessent

The ongoing shutdown of the federal govt. could negatively impact America’s GDP, Treasury Sec. Scott Bessent said in a CNBC interview on Oct. 2.

Takaichi Elected as Japan’s Ruling Party Leader, Set to Be Next Prime Minister

Japan’s ruling LDP elected conservative and vocal China hawk Sanae Takaichi as its leader, positioning her to become country’s next prime minister.

Kennedy Center Annual Gala Raises Record-Setting $3.45 Million  

National Symphony Orchestra raised $3.45M at its annual Kennedy Center gala, as patrons and donors gave record support to the arts.

Beef Prices Rise to Record High Amid Tight Supply From Shrinking US Cattle Herds

Beef prices hit record highs in the US and worldwide in September, with both international and US markets squeezed by shrinking cattle herds and demand.

Department of Energy Cancels $7.5 Billion in Project Funding

The Dept of Energy (DOE) said on Oct. 2 that it had terminated 321 federal grants funding 223 projects, amounting to about $7.56 billion in cuts.

White House Withdraws EJ Antoni’s Nomination to Lead Bureau of Labor Statistics

The White House has withdrawn economist EJ Antoni’s nomination to lead the Bureau of Labor Statistics, the White House confirmed on Sept. 30.

US to Impose 100 Percent Tariffs on Foreign-Made Movies, Trump Says

President Donald Trump announced on Sept. 29 that he will impose a 100 percent tariff on all movies produced outside the United States.

Trump to Host Netanyahu at White House to Discuss Gaza Peace Plan

President Trump will host Israeli Prime Minister Netanyahu at the White House on Sept. 29 to discuss a ceasefire and broader peace plan for Gaza.
spot_img

Related Articles

Popular Categories

MAGA Business Central