Deadline Approaches for Unclaimed $1,400 Stimulus Checks

Washington, D.C. — As the federal tax deadline approaches, individuals eligible for the 2021 Recovery Rebate Credit have until April 15, 2025, to claim their funds. This credit, which can provide up to $1,400 per individual or $2,800 for married couples, is crucial for families that may have missed previous Economic Impact Payments.

The IRS estimates that approximately 1 million taxpayers still have not claimed a total of $1 billion in stimulus funds from the 2021 tax year due to unfiled returns. Filers who missed receiving these benefits during the COVID-19 pandemic can claim them on their 2021 federal tax returns.

“If you believe you may be missing out on money, the best advice is to file your 2021 return to claim the Recovery Rebate Credit before the April 15 deadline,” said Tommy Lucas, a certified financial planner and enrolled agent.

For eligible families, the Recovery Rebate Credit can significantly impact finances. A family of four with two qualified dependents could receive up to $5,600. Taxpayers may verify their eligibility and check their payment status by logging into their IRS accounts online. According to reports, the IRS has already begun issuing payments to taxpayers who failed to claim this credit, totaling around $2.4 billion.

“Our internal data shows that many individuals overlooked this complex credit, which is why we are making the payments automatic for those who qualify,” said IRS Commissioner Danny Werfel in a statement. “Taxpayers will not be required to file an amended return to receive these funds.”

To qualify for the full $1,400, individuals must have an adjusted gross income of $75,000 or less, or $150,000 for married couples filing jointly. The credit phases out for income above these thresholds, fully expiring at $80,000 for singles and $160,000 for couples.

While many taxpayers typically rely on filing their returns to receive potential refunds, some may not realize they are still eligible for the stimulus payment if they haven’t filed for 2021. “Filing tax returns is essential to access any unclaimed refunds, including the Recovery Rebate Credit,” explained Robert Nassau, a law professor and director of a low-income tax clinic at Syracuse University.

The IRS ensures that eligible individuals who filed for 2021 but did not receive their payments can still expect their funds via direct deposit or paper checks by late January 2025. A separate letter confirming the payment will be sent as well.

This announcement comes as April 15 approaches, which coincides with the tax filing deadline for 2024 returns as well. Failure to file by this date will result in unclaimed funds reverting to the U.S. Treasury, further emphasizing the urgency for qualifying taxpayers.

In Mississippi alone, approximately 9,600 individuals are still owed about $8.3 million in unclaimed taxes for 2021. Some could receive an average refund of $701 if they timely file their tax returns.

For those yet to address their 2021 tax situations, the time to act is now. “It’s better to file late than to miss out completely on money that belongs to you,” added Nassau.