Be careful, people: if you are one of the millions who have yet to claim the $1,400 payment, the deadline is approaching! Be careful, people: if you are one of the millions who have yet to claim the $1,400 recovery check, you have until April 15 to do so.
After that date, the money may disappear. Yes, as you heard it. The IRS estimates that nearly $1 billion remains unclaimed as of 2021, so this is a small sum.
The process is easier than you think. You only need to file your 2021 tax return (yes, the one from three years ago) alongside this year’s. It makes no difference if you’ve never filed taxes before; if you meet the requirements, you’ll be eligible for the credit.
Of course, if you make more than $160,000 per year, forget about it. If your adjusted gross income was lower, you could take up to $160,000 per year, but forget about it. However, if your adjusted gross income is lower, you could receive up to $2,800 if you file a joint return.
Time is running out to claim a $1,400 stimulus check
The deadline is April 15, but if you don’t have time, you can request an extension until October 15 by completing Form 4868. Of course, an extension does not absolve you of paying fines if you owe taxes. Advice? Avoid making errors on the forms. A wrong number or incomplete information can cause a weeks-long delay in receiving your refund.
Oh, and if you have dependents (children, elderly parents, etc.), they are also eligible for the $1,400, regardless of age. This is not limited to families with young children. Take advantage if you care for someone!
According to the IRS, the average this year is approximately $1,928, a significant increase from $1,395 in 2024. If you choose direct deposit, the amount rises to $2,069. Of course, times vary: electronic returns are typically processed in 21 days, whereas paper returns can take a month or longer.
Credit is limited to those who did not declare that year. If you did it previously, it does not apply. However, if you have put it off for some reason (complicated life, pandemic, forgetfulness), now is your chance. Just make sure you include all of the necessary information to avoid complications.
Don’t forget about the EITC tax credit
While you’re getting organized, see if you qualify for the Earned Income Tax Credit (EITC), which can amount to an additional $6,728. This benefit is designed for low- and moderate-income workers, so it’s worth looking into.
The IRS provides a tool called Where’s My Refund?. It is effective 24 hours after you submit your electronic return or four weeks if you mail it. If you notice delays, don’t worry: the IRS is swamped with paperwork, but keeping your information up to date helps.
Also See:- Ssdi Disability Payments: Updates From the Social Security You’ve Got to Know
