New stimulus checks aren’t coming, but those who haven’t yet received the third stimulus check despite being eligible or got less than expected, can now claim it with their 2021 tax return. To claim the coronavirus stimulus check, such people need to file the Recovery Rebate Credit with their tax return. Also, the IRS has come up with tips to help them avoid processing delays.
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People need to file a tax return to claim the Recovery Rebate Credit. So, even those who don’t normally file a tax return will need to file a return to claim the coronavirus stimulus check.
"If you didn't qualify for a third Economic Impact Payment or got less than the full amount, you may be eligible to claim the 2021 Recovery Rebate Credit when you file your 2021 tax return," the IRS says.
To avoid processing delays while filing the Recovery Rebate Credit, the IRS recommends filers keep all their information ready. The IRS says that if the submitted tax return has errors or is incomplete, it may need “further review while the IRS corrects the error, which may slow the tax refund.”
Talking about what information is needed, the agency says people should know the amount of money they got under the third stimulus check, including any Plus-Up Payments. In case you don’t know the amount, you can easily view it in your individual Online Account.
Further, the agency says it would also issue Letter 6475 to those who got the third stimulus check. The letter will confirm the amount of the individual’s third stimulus check. Those who file a joint return with their spouse, each spouse will have to log in to their Online Account to check (or review their own Letter 6475) to know the amount of their stimulus check.
“Having this payment information available while preparing the tax return will help individuals determine if they are eligible to claim the 2021 Recovery Rebate Credit for missing third-round stimulus payments,” the IRS says.
The IRS also urges filers to “carefully review” their tax return before filing.
How To Get Your Tax Refund Quickly
Along with keeping the payment information ready, the IRS says that the fastest and most secure way to get your tax refund is by filing the return electronically and choosing direct deposit.
Those with an income of $73,000 or less, including those who aren’t required to file a tax return, can file their tax return for free using the IRS Free File program. So filing the tax return electronically and getting a tax refund deposited directly in your bank account is not just the fastest and most secure, but also a contactless and free way to get your tax refund.
Moreover, filing electronically also allows the tax software to verify the credits and deductions. Also, the IRS notes that the 2021 Recovery Rebate Credit Worksheet on Form 1040 and Form 1040-SR instructions can also help.
