Stimulus Check Update: What You Need to Know
New Round of Stimulus Checks on the Way
By the end of this month, millions of taxpayers can expect to receive a stimulus check worth up to $1,400, depending on their 2021 tax filing status. The Internal Revenue Service (IRS) announced in December that it would be distributing a whopping $2.4 billion in stimulus checks to eligible taxpayers who didn’t claim the Recovery Rebate Credit on their 2021 tax returns.
Who’s Eligible for the Latest Stimulus Check?
Taxpayers who failed to claim the Recovery Rebate Credit on their 2021 tax returns are eligible for this latest round of stimulus checks. To check if you’re eligible, simply review your 2021 tax return and look for the Recovery Rebate Credit field. If it’s blank or shows $0, you may be eligible for the stimulus check.
No Action Required
The good news is that taxpayers don’t need to take any action to receive the stimulus check. The IRS began automatically sending out payments in December, and they will continue through late January. Eligible taxpayers will receive a letter notifying them of the payment, which will be either direct deposited or sent by paper check.
How Much Can You Expect?
According to the IRS, eligible taxpayers can expect to receive up to $1,400. However, the exact amount will depend on individual circumstances.
Missed the Filing Deadline? You Can Still Apply
If you didn’t file a 2021 tax return, don’t worry – you can still claim the stimulus check. Simply file your return and claim the Recovery Rebate Credit by April 15, and you may be eligible for the stimulus check.
Stay Informed
For more information on stimulus checks and tax-related news, stay tuned for updates from the IRS and financial experts.
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