There’s still time to claim the unpaid stimulus from last year – even if it’s your first tax return.
Taxpayers don’t get it all arouse Funds distributed last year can claim up to $1,400 by filing a 2021 tax return.
Both the stimulus check and the Child Tax Credit are fully refundable, meaning people who don’t owe any taxes are eligible to claim the amount.
However, many lower-income citizens may not have claimed this amount if they had not filed or failed to file taxes recently because the IRS is responsible for distributing it based on previous tax returns.
A tax return is not always required, depending on your income, filing status, and age. For example, if you’re under 65 and earn less than $12,550, you don’t have to file a tax return.
Even if you don’t need to file, you should consider filing your 2021 tax return so you can get all the money you owe through. Refund Credit.
“If you qualify – and don’t receive the full amount of the Third Economic Impact Payment, or if you think you qualify for a Refund Credit that is more than the amount of the Impact Payment the third economic action you get – you’ I’ll need to file a 2021 tax return to claim the Cash Back Credit even if you don’t need to file a tax return,” according to the IRS.
The IRS has created an option for non-filers to receive their stimulus payments, but the deadline has passed – filing this year is the only option for those who didn’t file to claim their stimulus money.
The agency recommends that people submit their documents electronically to make the process as efficient and painless as possible.
Whether you are filing online or with a tax professional, you will need to collect Important documents to have all the necessary information.
This year’s deadline is not April 15, the date that usually marks IRS tax day.
That’s because April 16, 2022 is Liberation Day.
Emancipation Day commemorates when President Abraham Lincoln signed the District of Columbia’s Compensatory Emancipation Act into effect in 1862.
This act freed 3,000 enslaved people in the Washington, DC area.
The holiday has been celebrated in the DC area since 2005.
Since April 16 falls on a Saturday this year, the holiday will apply to Friday, April 15, pushing this year’s tax date to Monday, April 18 for most of the United States.
Monday, April 18 will also be the deadline to request a six-month extension to pay taxes.
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https://www.the-sun.com/money/4717927/last-chance-stimulus-tax-return/ Why you need to file a tax return to get a stimulus check for up to $1,400