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Missed Stimulus Check: Recovery Rebate Credit in 2020 and 2021

Missed Stimulus Check: Recovery Rebate Credit in 2020 and 2021
Missed economic stimulus check. (Photo: Getty Images)

Is there a way to get back a missed stimulus check?

The Recovery Rebate Creditor stimulus payments are no longer being given out in advance, the IRS has confirmed.

Taxpayers who missed stimulus check payments should claim the IRS stimulus credit for 2020 or 2021. Most low- and middle-income taxpayers who may have lost money because of the COVID-19 pandemic got stimulus payments.

Missed Stimulus Check: Recovery Rebate Credit in 2020 and 2021

Since the pandemic began, most Americans have gotten three stimulus checks so far. (Photo: Getty Images)

Taxpayers should file a 2020 tax return to claim missed stimulus check 1 and 2. The best way to make the most out of the third Economic Impact Payment, or EIP, is to file a full tax return for 2021. If a taxpayer missed stimulus check payments buy once or more, they should file back taxes and claim the Recovery Rebate Credit (RRC) for 2020 and/or 2021.

As of October 17, 2022, the only way to get any of the stimulus money is to mail in the appropriate tax return. Taxpayers who file a return for 2022 or later missed stimulus check money.

How do I know if I have a Missed Stimulus Check and Recovery Rebate Credit that I haven’t used?

As a result of the COVID-19 pandemic, the following tax credits for taxpayers, employers, and employees have been put in place. Taxpayers who are legally entitled to these credits should claim them on their tax return for 2020 or 2021.

Taxpayers may have gotten the first and/or second Economic Impact Payments (EIP) or COVID-19-related stimulus payments. These were based on whether or not they filed a tax return and how much their adjusted gross income (AGI) was.

  • The first stimulus payment was either $1,200 or $2,400 plus $500 per dependent.
  • The second payment was either $600 or $1,200 plus $600 per dependent.
  • The third payment was either $1,400 or $2,800 plus $1,400 per dependent.

These payments were based on the taxpayers’ most recent tax return, which was from 2018-2020. For the first EIP, each eligible child got $500, the second got $600, and the third got $1,400. There was no fourth stimulus check from the government.

The stimulus or economic impact payment (EIP) was not counted as income on taxpayers’ tax returns for 2020 or 2021, and they did not have to pay back any of the EIP they got during those years if they were eligible.

The IRS said that if a taxpayer put in the wrong numbers for the Recovery Rebate Credit, their refund would be changed and they wouldn’t have to do anything. But they had to have claimed something. If they hadn’t claimed anything and were still owed money, they would have to file a tax amendment to get the money they were missing.

If they applied for the stimulus money but got it after the fact, there is nothing they need to fix. See CP12 and other IRS notices for details on refunds that have been changed.

If a taxpayer said on their tax return that they missed stimulus check in third payment, but they did, the IRS will change this and send them a notice of the change, which could delay their refund.

To claim a missed stimulus check for stimulus 1 or 2, or the 2020 Recovery Rebate Credit, taxpayers should file 2020 Taxes and put this information on Line 30 of the Form 1040. You can no longer e-file your 2020 tax return. Taxpayers can fill out the forms online, then sign, print, and send them in by mail.

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