$2.4 Billion in IRS Stimulus Checks: Know Eligibility Criteria and How to Apply

$2.4 Billion in IRS Stimulus Checks: The US government has announced the release of $2.4 billion in the form of IRS stimulus checks. This payment is to provide financial assistance to taxpayers who did not claim the Recovery Rebate Credit (RRC) in their 2021 tax returns. Under this scheme, eligible individuals can receive an amount of up to $1,400 per person. If you did not claim this credit earlier, then this is a golden opportunity for you.

This initiative is part of the government’s continued efforts to provide economic relief, especially to those who are still grappling with the effects of the pandemic. If you want to know whether you are eligible for this scheme and how to apply, then this article is for you.

What is IRS Stimulus Check?

The IRS stimulus check is a financial assistance amount provided by the US government to taxpayers who did not claim to receive earlier Economic Impact Payments (EIPs).

This payment was authorized under the American Rescue Plan Act of 2021, providing eligible individuals and their dependents with up to $1,400 per person. However, some taxpayers missed claiming this credit or were not aware of it. Now, they have the last chance to get it.

Total amount: $2.4 billion
Maximum payment: $1,400 per person
Application deadline: April 15, 2025

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Who is eligible for this payment?

If you meet the criteria below, you may be eligible for this payment.

Filed a 2021 tax return
- If you filed a tax return in 2021 but did not claim the Recovery Rebate Credit (RRC) or entered $0 by mistake, you may be eligible for this payment.
Income Requirements
- Your Adjusted Gross Income (AGI) must be within the following limits in 2021:
- Single tax filers: $80,000 or less
- Head of Household: $120,000 or less
- Married Filing Jointly: $160,000 or less
- If your income exceeds these limits, your payment may be partially reduced or eliminated altogether.
Not a dependent
- If someone else claims you as a dependent on their tax return, you will not be eligible for this credit.
Residency and citizenship status
- Must be a U.S. Citizen or qualified resident alien.
- Non-Resident Aliens are not eligible for this payment.

How to apply?

To receive this payment, you need to follow the following steps:

Step 1: Confirm eligibility

Check your 2021 tax return and see if you claimed the Recovery Rebate Credit (RRC). If not, you can apply for it.

Step 2: File or amend tax return

If you have not filed your 2021 tax return yet, file it immediately.
If you have already filed a return but did not claim the credit, you need to update it by filling out Form 1040-X (amended tax return).

Step 3: Collect the required documents

You must fill in the correct information in your return, such as:

Your correct income
Dependents information
Filing status (Single, Married, Head of Household)

Make sure all the details are correct and updated so that your application can be approved as soon as possible.

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Step 4: Track application status

After submitting the return, you can check the status of your payment by visiting the official website of the IRS (IRS Economic Impact Payments).
The payment will be sent as a direct deposit or paper check.

Important deadlines

The IRS has set the last date to claim this payment as April 15, 2025. If you do not apply before this date, you may lose this payment.

Conclusion

The IRS stimulus checks of $2.4 billion are a significant relief for taxpayers who did not claim the Recovery Rebate Credit earlier. If you are eligible, it would not be wise to leave this money.