$1,400 Stimulus Checks: Who Qualifies and When to Expect Yours

$1,400 Stimulus Checks: Who Qualifies and When to Expect Yours. Economic Impact Payments were made in 2021 for different purposes and provided a safety net for American citizens during the pandemic from the COVID-19 virus. One of these was $1400 for a stimulus check, which was to be disbursed to individuals who lost their jobs, faced inflation, or were feeling financial pressure. Unfortunately, the eligible individuals who could not access this payment included those who had not filed their tax returns for that year. The IRS (Internal Revenue Service), however, is providing one last chance, termed ‘Recovery Rebate Credit,’ for such people to claim the $1,400 payment.

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The $1,400 Stimulus Check

The Economic Impact Payment that was sent as a stimulus check in 2021 for $1,400 marked the third round of Economic Impact Payments announced. The recipient of this payment was the devastator of the COVID-19 epidemic. Such checks were supposed to support citizens who lost jobs or found their monthly lives adjusted due to inflation and the economic crisis. However, more than a million people who should have qualified for this payment did not receive it. They were not able to file a tax return that year. Now, there is one last opportunity from the IRS for such people, and that comes in the face of Recovery Rebate Credit.

Don’t Miss the Cutoff

You are given three years from the original 2021 tax deadline by IRS rules to file your 2021 tax return to receive a refund. That’s to say that April 15, 2025, is the end date of the filing of a 2021 tax return.

Even filing an extension for your 2024 tax return won’t affect that date. Failing to file your 2021 tax return by April 15, 2025, means the money will go back permanently to the United States Treasury.

Eligibility: Who Can Claim the $1,400?

You must meet the following eligibility criteria to receive the full $1,400 credit:

• You did not receive a third stimulus payment in 2021.
• You must file a tax return for 202: if not, you still must file that return.
• Your Adjusted Gross Income (AGI) for 2021 must be within the following limits:
• For Individual: $75,000 or less
• For Head of Household: $112,500 or less
• For Married Filing Jointly: $150,000 or less

If your income was above this threshold, your payment will have been prorated or eliminated altogether.

Claiming

If you haven’t filed your 2021 tax return yet, follow these steps:

• Download the 2021 tax return forms from the IRS website.
• Fill out Form 1040 and include the Recovery Rebate Credit.
• Mail the form to the IRS or use certified e-filing software that accepts previous year returns.
• If you want direct deposit, make sure your bank information is up to date.
• File before April 15, 2025-there are no exceptions.

The IRS will deliver a payment directly to the recipient of a timely filed tax return of that individual eligible for the refund, or send a paper check to where she/he resides.

Conclusion

Supposing you were eligible for receiving a $1,400 stimulus check in 2021, the IRS has one last chance for you to take. Make sure to file your tax return for the year 2021 by April 15, 2025, so that you do not miss this opportunity to receive this money. It might be just what you need for some unexpected financial assistance, so keep up with those deadlines and act quickly.

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