Claim Your Stimulus Checks: A Look At Previous Payments Still Available To Claim

Ever since the US government started distributing stimulus checks in response to the economic downturn caused by the COVID-19 pandemic, millions of Americans have benefited. Yet, many outstanding claims exist. This article aims to guide you through the labyrinth of conditions, eligibility, and time frames to help you claim your stimulus check.

First Round of Stimulus Checks

The first round of stimulus checks was issued under the CARES Act in March 2020. Eligible adults were to receive up to $1,200, with an additional $500 per dependent child. These payments were based on either your 2018 or 2019 tax information.

Can I Still Claim My First Stimulus Check?

Unfortunately, the deadline to claim your first stimulus check was November 2020. However, if you missed this deadline, you could be eligible for the ‘Recovery Rebate Credit’ when you file your 2020 taxes.

Second Round of Stimulus Checks

Under the COVID-related Tax Relief Act of 2020, the second round was dispersed. In this round, eligible adults could receive up to $600 per individual, and the same amount per qualifying child.

Can I Still Claim My Second Stimulus Check?

Yes. If you haven’t received the second stimulus check, you might be eligible to claim it as a ‘Recovery Rebate Credit’ on your 2020 tax returns. Ensure to consult your tax advisor or the IRS website for the most accurate information.

Third Round of Stimulus Checks

The third wave of stimulus checks, issued under the American Rescue Plan, were dispatched in March 2021. Under this act, eligible adults were to receive $1,400, with the same amount for each dependent.

Can I Still Claim My Third Stimulus Check?

Yes, you can. The IRS is still processing tax returns and issuing payments. If you didn’t get yours, consider contacting the IRS or filing your 2021 tax returns early.

In Conclusion

Claiming your stimulus check doesn’t have to be an uphill task. Despite the deadlines for the initial payouts having passed, you have a chance to claim missed payments as tax credits. Be sure to stay informed with accurate information from trustworthy sources like the IRS Website.

Frequently Asked Questions

How do I know if I’m eligible for a stimulus check?

Eligibility is primarily based on your income. Check the latest guidelines on the IRS website.

What is the ‘Recovery Rebate Credit’?

This is a tax credit you can claim if you didn’t receive the full amount of the stimulus check you were eligible for in 2020.

How do I claim the ‘Recovery Rebate Credit’?

If you’re eligible, you can claim this credit when you file your 2020 tax return.

What should I do if I didn’t receive my stimulus check?

If you haven’t received your stimulus check, consider contacting the IRS or filing your tax returns early.

Remember, your stimulus check is meant to stimulate the economy and provide relief due to the COVID-19 pandemic. Don’t let yours go unclaimed!