The IRS is reminding individuals that they could receive extra money from the economic stimulus programs that paid out money in 2021. Some individuals did not receive all they were entitled to. And the only way to get that money now is to file a 2021 income tax return.
In some cases, individuals who normally don’t file a tax return because of their low income will have to file a tax return now to get this special pandemic payment.
If you think you are missing any of the pandemic stimulus payments you should check into this.
It might be worthwhile to seek free help from the IRS to check into this. Or ask a tax professional.
The 2021 Recovery Rebate Credit — that’s the pandemic money — can reduce any taxes owed or be included in the tax refund for the 2021 tax year.
You may have received Notice 1444-C from the IRS during 2021 as well as Letter 6475. Show these to your tax professional. They will help you know if you’re entitled to more money.
Letter 6475 will be sent out through the month of March so you may not have received it yet.
Remember, low-income individuals who usually do not file IRS returns will have to file in 2022 for the tax year 2021 if they want to get the stimulus money they missed in 2021.
And if you do have to file, file electronically and use the direct deposit option to speed your refund.
Disclaimer: Alan Mendelson is a well-known TV consumer news reporter who reports on tax issues. You should seek professional advice if you have tax questions or issues.