The Internal Revenue Service (IRS) is reminding eligible individuals who have not yet claimed their Recovery Rebate Credit to file a tax return before it’s too late. The deadlines to file a return and claim the 2020 and 2021 credits are May 17, 2024, and April 15, 2025, respectively.
The Recovery Rebate Credit is a refundable credit for those who missed out on one or more Economic Impact Payments. The IRS estimates that some individuals and families are still entitled to these payment(s). However, taxpayers must first file a tax return to make their claim.
Eligibility for the 2020 Recovery Rebate Credit requires that a person must have been a U.S. citizen or U.S. resident alien in 2020, not have been a dependent of another taxpayer for 2020, and have a Social Security number issued before the due date of the tax return.
For the 2021 Recovery Rebate Credit, eligibility criteria are similar, with the additional requirement that a person must claim a dependent who has a Social Security number issued by the due date of the tax return, or claim a dependent with an Adoption Taxpayer Identification Number.
The 2020 Recovery Rebate Credit can be claimed for someone who died in 2020, and both the 2020 and 2021 credits can be claimed for someone who died in 2021 or later.
For those who have not yet filed a tax return, they can claim the 2020 Recovery Rebate Credit by filing a tax return by May 17, 2024, and the 2021 Recovery Rebate Credit by filing a tax return by April 15, 2025.
Qualified taxpayers can find free one-on-one tax preparation help nationwide through the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs.
This reminder is part of an ongoing IRS effort to encourage people who normally are not required to file to look into possible benefits available to them under the tax law. The IRS reminds taxpayers that there is no penalty for claiming a refund on a tax return filed after its due date.
People can also use their IRS Online Account to see if they received any Economic Impact Payments and the total amounts.
Any Recovery Rebate Credit received can’t be counted as income when determining eligibility for federal benefits like Supplemental Security Income (SSI), Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF) and the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC). Claiming the credit also has no effect on an individual’s immigration status or their ability to get a green card or immigration benefits.
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