According to the IRS, all stimulus checks have been sent, but you may be eligible for more funds depending on your tax situation in 2021.
The IRS has issued the latest stimulus check
In an article recently published in the Waco Tribune-Herald, more than 175 million economic impact payments have been awarded by the IRS under the US bailout to help people cope with the impacts of the pandemic. For the third and most likely final stimulus check for COVID-19, lawmakers have set a deadline of December 31, 2021 to transfer these funds to the IRS.
The IRS said last week that the procedure was over. “The IRS is no longer issuing payments as required by law,” but “some checks may still be in the mail,” according to the Internal Revenue Service press release.
Don’t panic if you haven’t received your third stimulus check or if you think you’re entitled to some extra money. The 2021 stimulus rebate credit was paid up front as part of the third wave of economic impact payments, so you can claim the credit on your tax return to make up for the money you lost . This is essential because the IRS calculated the stimulus payments using tax information from your 2020 return or earlier, and your circumstances may have changed since then, making additional funds available.
The IRS advised parents to file their taxes
New parents who adopt, foster or give birth in 2021 are encouraged by the IRS to claim the child tax credit on their tax returns for a credit of up to $3,600 per child.
Due to a long holiday weekend, tax season technically started on January 24 and ends on April 18 in most states. It is recommended to request a refund as soon as possible in the vast majority of cases. Before filing for bankruptcy, make sure you have the correct information about past stimulus payments you’ve received if you feel you still owe stimulus money.