The Internal Revenue Service will be sending out letters by the end of the month to those who received the third round of Economic Impact Payments — sent out last April — and those who did not but may be eligible for the $1,400 payment.
The last Economic Impact Payments were issued by Dec. 31 in accordance with the American Rescue Plan Act of 2021, which was signed into law on March 11, 2021. However, some people have not yet gotten their payment. If you are eligible and are missing the payment, you can check when and how your payment was sent with the Get My Payment tool.
According to the agency, the letter will help those who did not get an Economic Impact Payment to determine if they are entitled to get one and how they should claim the payment through the Recovery Rebate Credit on their tax year 2021 tax returns — the returns that are filed in April.
The Recovery Rebate Credit allows those who, for whatever reason, did not get a stimulus check from the government to get it as a credit on their 2021 taxes.
The Economic Impact Payment letters will also include information that can help taxpayers quickly and accurately file their tax returns, the agency said in a news release.
©2022 Cox Media Group