According to the IRS, all stimulus checks have been sent, but you may be eligible for more funds based on your 2021 tax situation.
IRS starts sending last stimulus check. (Photo: Checkexpress)
IRS Issued Last Stimulus Check
In a recently published article in Waco Tribune-Herald, more than 175 million Economic Impact Payments were granted by the IRS as part of the American Rescue Plan to assist individuals dealing with the impacts of the pandemic. For the third and most likely last stimulus check for COVID-19, lawmakers set a Dec. 31, 2021, deadline to transfer those monies to the IRS.
The IRS said last week that the procedure had been completed. “The IRS is no longer issuing payments as required by law,” but “some checks may still be in the mail,” according to the press release on the Internal Revenue Service.
Don’t panic if you haven’t received your third stimulus check or believe you are entitled to extra money. The 2021 Recovery Rebate Credit was paid in advance as part of the third wave of Economic Impact Payments, so you may claim the credit on your tax return to make up for the money you lost. This is critical because the IRS calculated stimulus payouts using tax information from your 2020 return or earlier, and your circumstances may have changed since then, making additional money available.
IRS Advised Parents To File Their Taxes
New parents who adopt, foster, or give birth in 2021 are encouraged by the IRS to claim the child tax credit on their tax returns for a credit of up to $3,600 for each kid.
Due to a long holiday weekend, tax season technically began on Jan. 24 and goes through April 18 in most states. Filing for a refund as soon as feasible is recommended in the vast majority of circumstances. Before filing for bankruptcy, be certain that you have the right information regarding any prior stimulus payments you’ve received if you feel that you’re still due stimulus money.
