If you qualify for the third stimulus payment but you never received it, it’s not too late.
The payment, also called an Economic Impact Payment, or EIP, was worth $1,400 for single taxpayers who earn up to $75,000 and $2,800 for married people who file joint tax returns and earn up to $150,000. Another $1,400 would go to each qualifying dependent.
You may be eligible for a partial payment if you earn less than $80,000 for singles and less than $160,000 for married people who file a joint tax return.
If you didn’t get the payments, which started to go out in March 2021, you can get it now by claiming the Recovery Rebate Credit on your 2021 tax return. If you received a partial payment but you think you’re eligible for more, you can also file for the credit.
The stimulus payments were based on information the IRS had about you previously, so it’s possible that you’re actually eligible but the IRS didn’t know it. For example, if you earned less in 2021 than you claimed on prior tax returns, you may now qualify. The same would happen if you had a new baby that hadn’t yet been reported to the IRS.
Even if you don’t normally have to file a tax return, filing one for 2021 is the only way to ensure you get your stimulus payment, the IRS said.
When you claim the credit, it will reduce any taxes owed or be added to your 2021 tax refund, it said. If you’re missing any of those payments, it would need to be reflected on your 2020 tax return.
You can file your federal taxes for free by using IRS Free File.
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Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com. Follow her on Twitter at @KPMueller.
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Are you missing a stimulus payment? Here’s how you can get it. - NJ.com
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