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According to recent Internal Revenue Service (IRS) reports, approximately nine million eligible individuals are still awaiting their final stimulus payments. This last chance to claim the stimulus check is crucial for those who may have missed out on previous distributions.
Given the short window of time remaining, it's imperative for individuals to check their eligibility and apply promptly.
The stimulus checks are part of the Economic Impact Payments (EIPs) provided by the government as part of COVID-19 relief efforts. These payments were distributed in three installments throughout 2020 and the early part of 2021.
To claim the Recovery Rebate Credit, individuals must file their taxes using Form 1040, even if they aren't typically required to do so due to low income.
Is there a deadline for receiving stimulus checks?
Time is running out for Americans to claim their $1,400 stimulus checks, as the IRS has set May 17 as the deadline for applications.
The IRS has been actively encouraging eligible non-filers to claim their Recovery Rebate Credits before the looming deadline.
While many taxpayers have already received their stimulus checks through the Recovery Rebate Credit, those who missed out on previous payments still have a chance to claim their share. Even individuals with minimal or no income are urged to file their taxes to be eligible for the credit.
It's worth noting that individuals have until April 15, 2025, to file their necessary tax returns for the 2021 Recovery Rebate Credit. However, for those who have not filed tax returns for 2020, the deadline to claim the stimulus check refund is May 17, 2024. The IRS advises individuals to check their records carefully to ensure they don't miss out on potential refunds.
Eligibility for the $1,400 stimulus check is generally determined based on citizenship or residency status, dependency, and possession of a valid Social Security number. The IRS offers free tax preparation assistance through various programs to help individuals navigate the process and maximize their benefits.