Sab. Feb 1st, 2025

LWAUSTIN CALDWELL
01/02/2025

11:17
CSTThe notion that taxes are inevitable and a headache for people often overshadows certain benefits that are given to taxpayers who comply with their obligations. Proof of this is the recent news announced by the Internal Revenue Service (IRS).A review of internal IRS data found that a large number of taxpayers filed a 2021 return but did not claim the Recovery Rebate Credit, a refundable amount for people who did not receive one or more Economic Impact Payments, known as stimulus payments.According to information released by the IRS in December, there were plans to issue automatic payments at the end of the year to eligible individuals who did not claim the Recovery Rebate Credit on their 2021 tax returns.Even those who did not file a 2021 tax return could still be eligible to receive the stimulus check if they file their 2021 return and claim the Recovery Rebate Credit by April 15, 2025.No action was required for eligible taxpayers to receive such payments, which if they have not arrived could well be in taxpayers’ bank accounts these days or arriving in the form of a check. And for this, the IRS “continues to work hard to make them without eligible individuals having to go through the lengthy process of filing an amended return to receive it,” said IRS Commissioner Danny Werfel.According to the IRS, “Most eligible taxpayers have already received their EIP or Recovery Rebate Credit” whose maximum payment is $1,400 per person, so if you have not yet received it, it is time to check your physical mail or take a look at your bank account.