The Internal Revenue Service (IRS) may have issued a tax refund check, and you may be losing it if you do not act quickly: it is $1,400, a very juicy sum that is not insignificant at all, so what are you waiting for to do some paperwork and claim it? If you’re not sure what to do, follow me and I’ll tell you everything you need to know.
The Recovery Rebate Credit, a pandemic-era tax benefit, must be claimed by April 15. Although the exact date is frequently misunderstood (some internet forums mention April 14, but it is actually April 15), the truth is that there are about two weeks left to secure that money. If you do not submit your 2021 return on time, the US Treasury will keep your refund.
What to do to claim the tax refund dating from 2021?
To begin, we can assure you that there is good news: if the IRS owes you money, there are no penalties for filing your return late. Of course, the clock is ticking. If you haven’t claimed your $1,400 credit—part of the 2021 stimulus checks—now is your last chance. And be careful: even if you earned little or nothing that year, you must still complete the form. Do not let this money slip away!
If you have not filed your 2021 return and met the requirements for the third stimulus check, you are on the “green list” of those eligible for this tax refund. The amount is determined by your income for the year: if you earned less than $75,000 (or $150,000 as a couple), you may be eligible for the full $1,400.
However, if you have already filed and forgot to claim the credit, don’t worry: Since January, the IRS has been sending automatic payments to some taxpayers. Check your records or contact the IRS for confirmation.
$1 billion in tax refunds remain unclaimed
In a recent statement, the IRS issued an urgent call to more than 1 million taxpayers who have not claimed their tax refunds for 2021, with a total amount of money to be claimed exceeding $1 billion. Although the federal tax agency’s average check is $781, those who qualify can receive up to $1,400.
The IRS gives three years from the original deadline (April 2022) to claim refunds, with the last day being April 15, 2025. If you mail your return, make sure it’s postmarked by then.
Do you currently use electronic software? Then you have until midnight. But be cautious: If the IRS discovers any outstanding debts (such as student loans or child support), they may deduct the amount from your refund.
This is critical to remember: if you have not filed returns for later years (2022 or 2023), the IRS may withhold your refund until you have completed all necessary paperwork. But don’t worry: by filing your 2021 return on time, you prevent the government from calculating your debt on its own, which can result in higher payments.
