Millions of Americans will soon be receiving notices from the IRS regarding the stimulus payments they received in 2021. Most people won’t need to contact the IRS or take any further action. Simply keep the documents with the rest of your tax forms until you’re ready to file…you may need to refer to them when you prepare your return. The following are three stimulus notices you need to keep for your taxes:
In March 2021, the IRS started issuing a third round of stimulus payments. It was worth $1,400 for individuals and $2,800 for married couples filing jointly. Taxpayers also received an additional $1,400 for each qualifying dependent. To receive the full amount, your adjusted gross income had to be less than:
The IRS sent a Notice 1444-C to everyone who received a third stimulus payment. It stated the amount you received and how you were paid (check or direct deposit).
If you didn’t receive a third stimulus payment or the full amount you deserved, you may be eligible for the Recovery Rebate Credit when you file your 2021 tax return. In early 2022, the IRS will be sending Letter 6475 to confirm the amount of your third stimulus and any plus-up payments you received. You’ll need this information to claim the missing stimulus money on your taxes. ezTaxReturn supports the Recovery Rebate Credit and is the fast and easy way to do your taxes. E-file in just 30 minutes and get your refund quickly.
As part of the American Rescue Plan, the Child Tax Credit received a full makeover for 2021. It was expanded so more people qualify, the value was increased, and taxpayers received half of their estimated credit as advance monthly payments. The payments were worth $300 per child aged 5 or younger and $250 per child between the ages of 6 and 17. Most taxpayers automatically received the advance payments between July and December 2021. You’ll get the remaining portion of the Child Tax Credit when you file your tax return.
If you received the advance payments, the IRS will be sending you Letter 6419 in January 2022. It will tell you the total amount you received in 2021, so you can claim the correct Child Tax Credit amount when you do your taxes. Use ezTaxReturn to ensure you get every money-saving tax credit and deduction you deserve…and get the biggest possible refund, guaranteed.
The information in this article is up to date for tax year 2024 (returns filed…
The information in this article is up to date for tax year 2024 (returns filed…
The information in this article is up to date for tax year 2024 (returns filed…
The information in this article is up to date for tax year 2024 (returns filed…
The information in this article is up to date for tax year 2024 (returns filed…
The information in this article is up to date for tax year 2024 (returns filed…