Tax Day is IRS deadline to file for unclaimed stimulus checks
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The Internal Revenue Service says more than $1 billion in stimulus payments are still unclaimed by 1.1 million people.
Why it matters: April 15 is the deadline to file for the refunds that are part of $2.4 billion in stimulus payments related to 2021 COVID recovery relief payments.
- The payments are as high as $1,400 per individual but the amounts vary.
The big picture: If an eligible taxpayer does not file within the three-year window, the money goes to the U.S. Treasury, the IRS said.
- Some people received their refund or stimulus payment automatically in December or January.
IRS stimulus check eligibility
Context: The payments are for taxpayers who didn't receive the Recovery Rebate Credit in 2021.
- The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments or stimulus checks.
- To be eligible for the credit, 2021 adjusted gross income had to be below $80,000 if filing as a single filer and under $160,000 if filing jointly, per the IRS.
By the numbers: 102,200 people in Texas are eligible for $94.8 million, 116,300 people in California are eligible for $92.3 million and 73,000 people in New York are eligible for $72.5 million.
- See the IRS state-by-state breakdown of who might be due a 2021 refund and the average payment here.
$1,400 stimulus checks: Payment amounts vary
Zoom in: The IRS said payments vary depending on several factors, but the maximum payment is $1,400 per individual.
- It's up to $1,400 for each qualifying adult and $1,400 for each eligible child or adult dependent.
File 2021 returns for stimulus money by Tuesday night
Between the lines: The IRS says "there is no penalty for claiming a refund on a late-filed tax return."
- The federal agency recommends taxpayers use direct deposit "as the quickest and simplest way to receive a tax refund."
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