You could be missing out on a tax refund check from the Internal Revenue Service (IRS) if you don’t move soon. The check is for $1,400, which is a nice amount that isn’t small at all, so what are you waiting for? Simply fill out some paperwork and claim it. Now you know what to do. Just follow me, and I’ll tell you everything you need to know.
The Recovery Rebate Credit is a tax break from the pandemic that ends on April 15. There are still about two weeks to get that money, even though the exact date is often mixed up (some online groups say April 14, but it’s actually April 15). You will lose your reward if you don’t file your 2021 tax return on time.
Follow these steps to get your tax refund from 2021
Start by taking a deep breath. There is good news: if the IRS owes you money, you won’t get fined for filing your return late. Yes, the timer is running out. This is your last chance to get that $1,400 credit that is part of the 2021 stimulus checks. Also, be careful: you have to send in the form even if you didn’t make much money that year. Do not lose this money!
You can get this tax refund if you haven’t filed your 2021 return yet and met the standards for the third stimulus check. This is called the “green list.” The amount relies on how much money you made that year. If you made less than $75,000 (or $150,000 for a couple), you could get the whole $1,400.
If you’ve already filed and forgot to claim the credit, don’t worry: Some people have been getting payments from the IRS automatically since January. To be sure, look at your records or call the IRS.
$1 billion in tax refunds have still not been claimed
The IRS recently sent an urgent message to more than a million taxpayers who still haven’t claimed their 2021 tax returns. The total amount of money that needs to be claimed is more than $1 billion. The average check the IRS sends is $781, but the biggest one they will send to people who apply is $1,400.
The IRS gives people three years from the original due date (April 2022) to file for returns. The last day to do so is April 15, 2025. Make sure your return is postmarked before that date if you’re sending it by mail. Does your company already use software? After that, you have until midnight. But be careful. If the IRS finds that you still owe money on things like student loans or child support, they could take that amount out of your return.
Not filing tax forms for 2022 or 2023 could cause the IRS to hold your refund until you get everything in order. This is very important to remember. Don’t worry, though. If you file your 2021 tax return on time, the government won’t be able to figure out your debt on its own, which can lead to bigger payments.
