Are you wondering if you might be one of the lucky Americans with a $1,390 stimulus check headed your way? Well, you’re not alone!
The Internal Revenue Service (IRS) is currently distributing billions in stimulus payments to taxpayers who missed out on claiming the Recovery Rebate Credit on their 2021 tax returns.
This unexpected financial windfall could be the perfect boost to your budget – but time is running out to claim it if you haven’t already filed your 2021 taxes.
Think of this payment as a forgotten treasure chest the IRS discovered with your name on it. They’re now working diligently to return these funds to their rightful owners before the final deadline of April 15, 2025.
With just days remaining to stake your claim, understanding your eligibility and how to access these funds has never been more urgent.
Understanding the $1,390 Stimulus Payment
First, let’s clear up some confusion. While some sources mention a $1,390 payment, the official amount from the IRS is actually up to $1,400 per eligible individual.
This payment isn’t a new stimulus program but rather the third round of Economic Impact Payments (EIP3) that was part of the American Rescue Plan Act passed during the pandemic.
The IRS has discovered that over one million eligible taxpayers either didn’t claim this credit on their 2021 tax returns or haven’t filed a 2021 return at all.
Like a diligent accountant finding an error in your favor, the tax agency is now working to correct this oversight and ensure eligible Americans receive the money they’re entitled to.
What makes this situation unique is that the IRS is taking two approaches:
- Automatically sending payments to those who filed 2021 returns but didn’t claim the credit
- Waiting for those who haven’t filed 2021 returns to submit them before the April 15, 2025 deadline
This payment represents the final chapter in the COVID-era stimulus programs, offering one last opportunity to claim funds that were intended to provide financial relief during the pandemic.
Who Qualifies for the $1,400 Stimulus Payment?
Eligibility for this payment follows specific guidelines based on your 2021 financial situation. The criteria are straightforward but strict:
Income Requirements
Your eligibility is primarily determined by your adjusted gross income (AGI) from 2021:
- Single filers: Full payment if your AGI was $75,000 or less, with payments phasing out completely at $80,000
- Married filing jointly: Full payment of $2,800 (that’s $1,400 each) if your combined AGI was $150,000 or less, phasing out at $160,000
- Head of household: Full payment if your AGI was $112,500 or less, phasing out at higher incomes
Additional Eligibility Factors
Beyond income requirements, you must also:
- Have had a valid Social Security number in 2021
- Not have been claimed as a dependent on someone else’s tax return
- Have not received the full third stimulus payment in 2021
What’s particularly important to note is that even people with little or no income in 2021 can qualify for this payment. The IRS has emphasized that this credit can be claimed even by those who don’t normally have a filing requirement.
| Filing Status | Full Payment Income Limit | Payment Phases Out Completely At |
|---|---|---|
| Single | $75,000 | $80,000 |
| Married Filing Jointly | $150,000 | $160,000 |
| Head of Household | $112,500 | $120,000 |
| Maximum Payment Per Person | $1,400 | – |
| Deadline to Claim | April 15, 2025 | – |
How to Check If You’re Eligible
Wondering if you’re one of the million-plus Americans with unclaimed stimulus money? Here’s how to find out:
For Those Who Filed a 2021 Tax Return
If you already filed your 2021 tax return, check if you claimed the Recovery Rebate Credit by:
- Reviewing your 2021 tax return
- Looking for the Recovery Rebate Credit field (Line 30 on Form 1040)
- Checking if you left it blank or entered $0
If you did either of these and were eligible for the credit, good news! The IRS has been automatically sending payments since December.
You don’t need to take any action – the money will either be directly deposited into your bank account or sent as a paper check to your address on file.
It’s like finding money in an old coat pocket – except the IRS is checking all your pockets for you and handing you what they find!
For Those Who Haven’t Filed a 2021 Return
If you haven’t filed a 2021 tax return yet, you still have a chance to claim this payment, but the clock is ticking loudly. You must file your 2021 return by April 15, 2025 – just days away from now.
Even if you don’t normally file taxes due to low income, you should consider filing for 2021 to claim this credit. Think of it as a special exception to your usual routine – one that could put $1,400 in your pocket.
How to Claim Your $1,400 Payment Before Time Runs Out
With the April 15, 2025 deadline rapidly approaching, here’s what you need to do to claim your payment:
Step 1: Gather Your Documentation
Collect all necessary information for your 2021 tax return:
- Social Security number
- Income information from 2021
- Banking details for direct deposit
Step 2: Choose Your Filing Method
You have several options:
- Online tax preparation software: Many offer free filing for simple returns
- IRS Free File program: Available if your income was under $73,000
- Professional tax preparer: For more complex situations
- Paper forms: Though this is the slowest method
Step 3: Complete and Submit Your Return
Make sure to:
- Claim the Recovery Rebate Credit on Line 30 of Form 1040
- Double-check all information for accuracy
- Submit before the April 15, 2025 deadline
Remember, this deadline is firm. The IRS has made it clear that there will be no extensions or exceptions. After April 15, any unclaimed funds become property of the U.S. Treasury – forever out of your reach.
What to Expect After Filing
If you’re eligible, you’ll receive your payment either by:
- Direct deposit (if you provided banking information)
- Paper check mailed to your address
Processing times vary, but you can check your refund status using the “Where’s My Refund?” tool on the IRS website or the IRS2Go mobile app.
The Financial Impact of This Payment
While $1,400 might not seem life-changing, it can make a significant difference for many Americans. Consider what this payment could do:
- Pay down high-interest debt
- Cover a month’s rent or mortgage payment
- Build an emergency fund
- Handle overdue medical bills
- Invest in education or training
Beyond the individual payment, the collective impact is substantial. The IRS is distributing approximately $2.4 billion in these payments, with an estimated 1.1 million taxpayers potentially eligible. That’s a massive injection into the economy.
What’s more, the median refund for 2021 tax returns is about $781 – and that’s not including the $1,400 stimulus payment. This means some taxpayers could be leaving thousands of dollars on the table if they don’t file.
Conclusion
The opportunity to claim your $1,400 stimulus payment is quickly coming to a close. With the April 15, 2025 deadline just days away, it’s crucial to take immediate action if you believe you’re eligible but haven’t yet received this payment.
Whether you need to file a 2021 tax return or are simply waiting for an automatic payment from the IRS, understanding your eligibility and the steps required can help ensure you don’t miss out on this significant financial boost.
Remember, this isn’t just about getting extra money – it’s about claiming funds that were specifically designated to help Americans weather the economic challenges brought on by the COVID-19 pandemic.
Don’t let your share of the $2.4 billion in unclaimed payments go to waste. Check your eligibility, file your return if needed, and ensure you receive the stimulus payment you’re entitled to before time runs out.
FAQs About the $1,400 Stimulus Payment
1. Is this a new stimulus payment or related to previous COVID relief? This is not a new stimulus program. It’s related to the third round of Economic Impact Payments (EIP3) authorized by the American Rescue Plan Act in 2021. The IRS is now ensuring that eligible people who didn’t receive the full amount can still claim it.
2. What if I don’t normally file taxes because I have little or no income? Even if you don’t normally have a filing requirement, you can still file a 2021 tax return to claim the Recovery Rebate Credit. The IRS has specifically stated that people with little or no income in 2021 can qualify for this payment, so don’t assume you’re ineligible just because you weren’t required to file.
3. Can I still claim the payment if I miss the April 15, 2025 deadline? No. The IRS has been clear that there will be no extensions or exceptions to the April 15, 2025 deadline. After this date, any unclaimed funds become property of the U.S. Treasury, and you permanently lose the opportunity to claim this payment.
4. How can I check if I already received the third stimulus payment in 2021? You can check your IRS online account or review your bank statements from spring 2021 to see if you received a payment of approximately $1,400 from the IRS. If you’re still unsure, you can request a 2021 account transcript from the IRS, which will show whether a payment was issued to you.
5. What if I’ve moved or changed banks since 2021? If you’ve moved or changed banks since filing your last tax return, the IRS may have difficulty delivering your payment. For direct deposits to closed accounts, the financial institution will return the payment to the IRS, who will then mail a paper check to your address on record. It’s important to update your address with the IRS by filing Form 8822 if you’ve moved.
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