From March 2021 through December 2021, the IRS sent a third round of stimulus payments (aka Economic Impact Payments, or EIPs) to eligible taxpayers.
If you think you’re eligible for a third payment and haven’t received it, or if you think you’ve received less than what you’re eligible for, there’s good news. You can claim money through a rebate credit when you file your 2021 tax return.
What are Refund Points?
The tax credit is a refundable tax credit that can be claimed on your 2021 tax return if you did not receive your third stimulus check or received the incorrect amount.
Tip: When it comes to the third stimulus payment, it’s important to understand that it’s technically an advancement of the 2021 tax credit. Because the IRS doesn’t have access to your 2021 tax information when sending the advance, the agency relies on the most recent information on file for you (perhaps your 2020 or 2019 tax return) to determine how much you should send based on your annual income , number of dependents and other qualifying information.
Who is entitled to the rebate credit?
According to the IRS, most people who are eligible for the third round of payments (and any associated add-ons) have already received their stimulus checks — but in some cases, someone may not have received them or be in the amount mistake. E.g:
- You are applying for a new family member (such as a child) in 2021.
- Your marital status changed in 2021.
- Your 2019 or 2020 adjusted gross income (whichever the IRS uses to calculate the third stimulus amount) is high enough that you are ineligible for a stimulus check, but your 2021 AGI is now low and within the threshold.
- They don’t have a Social Security number, but received one by the 2021 tax deadline.
How do I apply for refund credits?
First, compare the third stimulus check amount you received with the amount you’re entitled to based on your 2021 tax information to determine the difference owed. (See the FAQ section below for a refresher on eligibility.) If you don’t remember the amount you received, you can check the following to see what the IRS has on file for you:
Your online IRS account (most accurate).
Request an IRS transcript.
Verification Notice 1444-C (sent after the first distribution of the third payment) and Letter 6475 (sent in early 2022). These entity IRS notices were sent to the address the agency has on file for each taxpayer who received a stimulus payment and listed the total amount allocated.
If you think you are entitled to a rebate after you get your number, you can apply for it on line 30 of Form 1040 on your 2021 tax return. There is also a worksheet on page 59 of the Form 1040 instructions to help you calculate the amount to apply for, and if you qualify, many good tax preparation software programs will help you apply for a loan.
A word of caution: Make sure you carefully review the information you submit to the IRS. Miscalculations or miscalculations may delay your refund. If you have questions about whether you are entitled to a tax refund credit or the amount to report, you can work with a qualified tax professional or tax software to get a better idea. The IRS also has an extensive FAQ section that covers other situations and complexities related to rebate credits.
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