February 23, 2022 - Douglas Myser

IRS providing rebate credit updates. The IRS is providing updates to the 2021 Recovery Rebate Credit. This is for people who missed getting one or more stimulus checks. The direct information can be obtained at the IRS website under FAQs FS-2022-12. Go to the IRS first to get there. The information you can get is listed under General Information Topic A, Claiming the Recovery Rebate Credit if you aren't required to file a 2021 tax return Topic B, Claiming the 2021 Recovery Rebate Credit Topic D, Calculating the 2021 Recovery Rebate Credit is Topic E, and Finding the Third Economic Impact Payment amount to calculate the 2021 Recovery Rebate Credit is Topic G. IRS providing rebate credit updates.

Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. Individuals may have received their third Economic Impact Payment from July through December 2021. Most eligible people already received their Economic Impact Payments and won't include any information about their payment when they file. However, people who are missing stimulus payments should review the information on the Recovery Rebate Credit page to determine their eligibility and whether they need to claim a Recovery Rebate Credit for tax year 2021. For those who have tax debts, Tax Resolution Services are available here. If you are looking for information to solve a tax debt issue, one option might be the IRS Fresh Start Program.

To claim any remaining credit for 2021, eligible people must file a 2021 tax return, even if they usually do not file taxes. Also, people who did not receive all of their first and second Economic Impact Payments in 2020 can receive those amounts only by filing a 2020 tax return and claiming the Recovery Rebate Credit from 2020.