New York taxpayers, did you receive a Recovery Rebate Credit stimulus check in 2021? If not, you may get one by the end of January. The Internal Revenue Service (IRS) recently announced they’ll be issuing automatic payments to eligible individuals who did not claim the Recovery Rebate Credit on their 2021 tax returns.
“Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible,” IRS Commissioner Danny Werfel said. “To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it.”
Here’s what to know about the stimulus checks.
What is the Recovery Rebate Credit and who is eligible to receive it?
The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, or stimulus payments, according to the IRS, and if you filed your 2021 tax return but left the Recover Rebate Credit field blank or filled it out as $0 when you were actually eligible for the credit, you could soon be receiving a stimulus check.
How much money could I receive?
Payments vary but the maximum amount you could receive is $1,400, the IRS says, and the total amount being dispersed nationwide is $2.4 billion.
How do I get my stimulus check?
Since the payments are being automatically delivered to those who are eligible for them, there’s no action needed on your part to receive your stimulus check, according to the IRS.
The checks were sent out in December and, in most cases, should arrive through direct deposit to the bank account listed on your 2023 tax return or paper check to the address of record by late January 2025. If you’re eligible, you should also receive a separate letter informing you of the payment.
What if I didn’t file my 2021 tax return?
You may still be eligible to receive the stimulus check if you file your 2021 tax return and claim the Recovery Rebate Credit by April 15, 2025.
Emily Barnes reports on consumer-related issues for the USA TODAY Network’s New York Connect Team, focusing on scam and recall-related topics. Follow her on Twitter and Instagram @byemilybarnes. Get in touch at [email protected].
