IRS: Time is Running Out to Claim COVID Stimulus Credit

By Kevin Tampone, syracuse.com (TNS)

The IRS is warning taxpayers that time is running out to claim a tax credit related stimulus payments distributed during the early years of the COVID-19 pandemic.

For some, the deadline is coming in mid-May.

The credit, known as the Recovery Rebate Credit, is aimed at taxpayers who did not get one or more of their pandemic-era stimulus checks or did not get the full amount of the payments, the IRS said. The payments went out in 2021 and 2020.

The rebate credit is refundable, meaning taxpayers can get money back if they’re eligible.

But you have to file a tax return to claim the credit, even if your income was minimal or non-existent, according to the IRS.

If you’re looking to claim the rebate credit for 2020, you have until May 17, 2024 to file a return. For the 2021 credit, you have until April 15, 2025.

To claim the credit for either year, you have to be a U.S. citizen or legal resident for the tax year 2020 and/or 2021. You also can’t be a dependent of another taxpayer and you need to have a Social Security number issued before the tax return’s due date.

The 2020 rebate credit can also be claimed for someone who died in 2020 or later, according to the IRS.

More details on the rebate credit and how to apply can be found on the IRS website.

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