New deadline for COVID check claim: May 17
Taxpayers Have Limited Time to Claim COVID Stimulus Checks
Taxpayers who have yet to file their 2020 tax returns and claim money from the first two COVID stimulus checks have just over two more months to do so. The Internal Revenue Service (IRS) issued a reminder of the approaching deadline, emphasizing that most eligible taxpayers have already received their stimulus payments.
“The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments, distributed in 2020 and 2021. Eligible taxpayers must file a tax return first to claim a Recovery Rebate Credit, even if their income from a job, business, or other source was minimal or non-existent,”
The final deadline for taxpayers to file a claim for a refund for tax year 2020 is May 17, three years after the regular due date for 2020 tax returns.
During the coronavirus pandemic, the IRS provided relief to eligible taxpayers by issuing three economic impact payments. The first payment, authorized in March 2020, was worth $1,200 for individual filers and $2,400 for joint filers. The second payment, authorized in December 2020, was worth $600 for individual filers and $1,200 for joint filers.
A third stimulus check, worth $1,400 for individual filers and $2,800 for joint filers, was sent out to eligible taxpayers starting in March 2021.
The deadline for taxpayers to claim the Recovery Rebate Credit for tax year 2021, which includes the third stimulus payment, is April 15, 2025, three years after the filing deadline for 2021 returns.
What is the deadline for taxpayers to file a claim for a refund for tax year 2020?
Taxpayers Have Limited Time to Claim COVID Stimulus Checks
Taxpayers who have not yet filed their 2020 tax returns and claimed money from the first two COVID stimulus checks have just over two months left to do so. The Internal Revenue Service (IRS) recently issued a reminder of the approaching deadline, highlighting that the majority of eligible taxpayers have already received their stimulus payments.
“The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments, distributed in 2020 and 2021. Eligible taxpayers must file a tax return first in order to claim a Recovery Rebate Credit, even if their income from a job, business, or other source was minimal or non-existent,” stated the IRS.
The final deadline for taxpayers to file a claim for a refund for tax year 2020 is May 17, which is three years after the regular due date for 2020 tax returns.
Throughout the course of the coronavirus pandemic, the IRS provided relief to eligible taxpayers by issuing three economic impact payments. The first payment, authorized in March 2020, amounted to $1,200 for individual filers and $2,400 for joint filers. The second payment, authorized in December 2020, was worth $600 for individual filers and $1,200 for joint filers.
A third stimulus check, worth $1,400 for individual filers and $2,800 for joint filers, was sent out to eligible taxpayers starting in March 2021.
The deadline for taxpayers to claim the Recovery Rebate Credit for tax year 2021, which includes the third stimulus payment, is April 15, 2025, three years after the filing deadline for 2021 returns. It is important for taxpayers to be aware of these deadlines in order to ensure they receive the stimulus payments they are entitled to.
In conclusion, taxpayers should act promptly to file their 2020 tax returns and claim any outstanding stimulus payments. With just over two months left to do so, it is crucial for eligible individuals to meet the May 17 deadline. By filing their tax returns, taxpayers can secure the much-needed financial support provided through the COVID stimulus checks.
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