IRS Deadline for $1,400 Stimulus Passed — Did You Just Miss Free Money?

If you were still holding out hope of claiming your stimulus payment from the federal governing body the window has officially closed April marked the final day to file a tax return and claim the Recovery Rebate Credit the official way for those who missed the third round of COVID- stimulus payments back in This wasn t just another tax deadline For multiple Americans especially those hit hard during the pandemic it was the last chance to get a much-needed financial boost Here s a breakdown of what this means who was eligible and what options are left for those who missed out Why This Deadline Mattered The checks were part of the American Rescue Plan Act passed in March While the bulk people received the payment automatically based on their or tax returns others especially those with lower incomes no income at all or those who didn t normally file tax returns had to take extra efforts To claim the money if it didn t arrive automatically people needed to file a tax return and indicate the missed payment through the IRS s Recovery Rebate Credit The IRS gave taxpayers three years from the original filing deadline to do that bringing us to April Who Was Eligible Eligibility for the third stimulus check was based on income Individuals earning or less qualified for the full Married couples filing jointly could receive if their combined income was or less Heads of household qualified if they made or less The payment gradually decreased for those above the income limits phasing out entirely for single filers earning or more joint filers at and heads of household at IRS Issued Surprise Payments in In a bit of good news earlier this year the IRS began issuing automatic payments to about million people who had filed a return but didn t claim the credit If the IRS uncovered they qualified they sent out the money no action needed Those payments totaling nearly billion started rolling out in late December and continued through early Preponderance people received them by direct deposit or check by the end of January But for those who hadn t filed at all by April that automatic help didn t apply What Happens If You Missed the Deadline Unfortunately if you didn t submit a tax return by April and you were eligible for the credit it s too late to claim the money The IRS has a strict three-year window for refunds and credits and once that door closes there s no way to reopen it This also serves as a reminder even if you don t owe taxes filing a return can be critical when it comes to accessing authorities benefits like stimulus payments tax credits or vitality insurance subsidies What You Can Do Now While you can no longer claim the stimulus payment it s still worth checking whether you re eligible for other tax credits that may still be within the filing window such as the Earned Income Tax Credit EITC or the Child Tax Credit CTC These could still be claimed if you missed filing your or tax returns You can visit IRS gov for more information or to connect with free tax filing assistance If you haven t yet filed your return the opportunity to claim the stimulus check has passed But that doesn t mean you should ignore your taxes altogether Other benefits may still be on the table and it s constantly better to file late than never