If you are missing any of the three stimulus checks issued by the federal government during the pandemic, you could still get that money through your 2020 tax return.
So far, three direct payments have been made to mitigate the economic effects of the pandemic: the first of $ 1,400, the second of $ 600, and the third of $ 1,200 for qualifying individuals.
Eligibility for each of the payments is different. For the last payment, a person must have had an income of less than $ 75,000 on their most recent tax return, less than $ 112,000 as main family supporter, or less than $ 150,000 for couples who filed a joint tax return.
All three checks can be claimed on your 2020 tax return, if you haven’t already filed it. The deadline is March 17, although it can be done before October 15 if you request an extension in time.
REFUND RECOVERY CREDIT
The Internal Revenue Service (IRS) said that people who did not receive the first or second stimulus check, or who received less than their due amounts, can make a claim to receive a Credit 2020 refund recovery.
The IRS said that even people who don’t normally file tax returns, such as certain Social Security recipients, must submit a tax return in order to receive payments.
There are several reasons why your refund or economic stimulus payment may be delayed, and here’s what the IRS says about it.
Refund recovery credits are subject to the taxes owed by the applicant and could be used by the government to cover these tax debts.