Last week the IRS issued a reminder to individuals eligible for the Recovery Rebate Credit, urging them to file their tax returns and claim the credit before the respective deadlines. The Recovery Rebate Credit is a refundable credit for those who missed out on one or more Economic Impact Payments during the COVID-19 pandemic. The deadlines for filing a return and claiming the credits for the years 2020 and 2021 are May 17, 2024, and April 15, 2025, respectively. The credit can also be claimed for individuals who passed away in 2020 or later. The agency emphasized that even individuals with minimal or no income must file a tax return to make their claim.
If you would like to read more, please visit: https://www.irs.gov/newsroom/irs-reminds-eligible-2020-and-2021-non-filers-to-claim-recovery-rebate-credit-before-time-runs-out