8/30/2023 0 Comments Recent stimulus check![]() ![]() The government may reduce your tax refund to pay for any taxes you owe and other federal and state debts. Please note: If you owe taxes, you may be subject to penalties and fines for not filing or not paying taxes. To learn more about your options, read the IRS page Filing Past Due Tax Returns. If you don’t owe taxes, there is no penalty for filing late. If you missed the October 2021 filing deadline, you can still file your tax return to get your first and second stimulus checks. ![]() The deadline to file your taxes was last October 15, 2021. You will need to file a tax return for Tax Year 2020 (which you file in 2021). The stimulus checks are a federal tax credit, known as the Recovery Rebate Credit. In order to get the Recovery Rebate Credit, you will need to file a tax return. See BBB.org/COVID and BBB.org/smallbusiness for information to help business owners.Claim your Stimulus Payments The Recovery Rebate Credits (Economic Impact Payments/Stimulus Checks) for 20Ĭlaim your first, second, or third stimulus check! You can claim the stimulus payments as a tax credit and get the money as part of your tax refund.See BBB.org/coronavirus for recent scam information and consumer tips.Check IRS.gov/coronavirus for the most recently updated information.Contact your bank directly if there is a problem with your direct deposit or appears to be a hold on the stimulus check distribution.Ask someone you trust, like a family member or financial advisor, for advice. ![]() If anyone contacts you to get your personal information, then tries to keep you on the phone or rush you to a decision, hang up. Individuals with income above $99,000 or couples above $198,000 with no children are not eligible. Payment is reduced by $5 for each $100 above that threshold. Be sure you are eligible. Tax filers who have adjusted gross income levels of $75,000 for individuals and $150,000 for couples will receive full payment.If you get a text, phone call, or email asking you for your personal information, do not respond. No one will call or email you from the government regarding your check.If you have not filed your 2019 return yet, 2018 filing information will be used. If you filed in 2019, that information will be used. The IRS will use your tax return for your bank account or address, and to calculate and send payments.See IRS.gov/coronavirus for more information. If you receive Social Security and typically do not file a tax return, you will no longer need to file a simple tax return or any other paperwork to receive the stimulus.More informaton is available under the Payment Recipients tab. The letter includes how the payment was made and if it wasn’t received, what you should do. Once you’ve received payment, watch for a letter directly from the IRS confirming receipt within 15 days after the payment is sent. The IRS has your tax information and will either mail the check directly to you, or use the direct deposit information they have on file from your tax return. ![]()
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