The year 2023 is coming to an end and there are still citizens of the United States of America who have not received the third stimulus check. This money’s function is to provide financial support to Americans amid the negative impacts of the coronavirus.
The Internal Revenue Service (IRS) is alerting Americans that they have the right to request these funds for 2020 and 2021. The reason the IRS is concerned is that the deadline for submitting the funds is coming up in the next few months.
The federal agency clarifies that people with outstanding checks have the option to collect them through the Recovery Refund Credit. This alternative is designed to return dollars to residents who did not receive economic relief payments.
To collect, you must meet the requirements
Taxpayers with late payments must report their 2020 and 2021 taxes. It is also important to complete the Refund Credit form, which is included in the affidavit itself.
To access this option, some requirements must be met. As of 2020, those interested in receiving the check must have North American citizenship or residency.
Another requirement for users is that they cannot be reported as a dependent in the 2020 tax year. It is important to have a Social Security Number (ITIN) registered before the end of the 2020 tax filing period. The ITIN must be valid to work in the country.
Individuals wishing to make the financial claim for 2021 must meet the same requirements. The expiration date to apply for the 2020 stimulus check is May 17 of next year. Citizens who can collect the contribution in 2021 have until April 15, 2025.