Didn’t Receive Your Full Economic Impact Payment? You May Be Eligible to Claim the Recovery Rebate Credit
The IRS has issued all first and second round of Economic Impact Payments to eligible taxpayers.
While some second round Economic Impact Payments may still be in the mail, the IRS has issued all first and second Economic Impact Payments based on information on file for eligible people.
If individuals didn’t receive a payment, or if they didn’t receive the full amounts, they may be eligible to claim the Recovery Rebate Credit and must file a 2020 tax return.
The individual will need to know the amount of any Economic Impact Payments issued to them to claim the Recovery Rebate Credit. Eligibility for and the amount of the Recovery Rebate Credit are based on 2020 tax year information while the Economic Impact Payments were based on 2018 or 2019 tax year information.
To help provide clarity about the Recovery Rebate Credit, the IRS issued frequently asked questions on it. The FAQs include information about:
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