IRS Urges Over 1 Million Americans to Claim $1,400 Recovery Rebate Credit Before April 15 Deadline
Eligible individuals who missed 2021 stimulus payments must file their 2021 tax return to receive the credit, with over $1 billion in refunds still unclaimed.
- The Recovery Rebate Credit, worth up to $1,400, is available to individuals who did not receive one or more stimulus payments during the pandemic.
- The IRS is automatically issuing payments based on 2023 tax returns, but non-filers from 2021 must submit their returns by April 15, 2025, to claim the credit.
- Eligibility for the credit is determined by adjusted gross income (AGI) thresholds, with phaseouts beginning at $75,000 for individuals and $150,000 for married couples filing jointly.
- Dependents of any age were eligible for $1,400 under the credit, subject to the same AGI limits as individual filers.
- The IRS estimates over $1 billion in unclaimed refunds from tax year 2021, with a median refund amount of $781 for those who have not yet filed.