If you haven’t yet filed your 2021 tax return or received an IRS stimulus check from the pandemic, mark April 15 as an important deadline. The IRS has a three-year window for claiming refunds, and this is your last chance.
For those who missed out on the 2021 stimulus payment of up to $1,400, there’s still a chance to claim it as a recovery rebate credit on your tax return for that year.
Robert Nassau, a law professor at Syracuse University and director of the school’s low-income tax clinic, put it plainly: “If you didn’t get the stimulus, you’re running out of time.”
A few handy tax tips: Filing for a free extension can be done in minutes before tax day; an expert confirms that navigating tariffs is far from foolproof, and while you can still tweak your tax situation for 2024 to maximize your refund.
Interestingly, in December, the IRS revealed plans to automatically send out “special payments” of up to $1,400 to about a million taxpayers who overlooked the 2021 recovery rebate credit on their tax returns for that year. These payments are expected to be delivered via direct deposit or mail by late January 2025, using information from the 2023 tax returns.
To verify if you got a stimulus payment, the IRS website offers an online account where you can check under “tax records” in the “records and status” section. This is the go-to place, according to Tommy Lucas, a certified financial planner from Moisand Fitzgerald Tamayo in Orlando, Florida.
Lucas also noted that your IRS account would show whether or not you’ve filed a 2021 return. Missing the April 15 deadline means not just losing out on the recovery rebate credit, but potentially other tax credits like the earned income tax credit, which can grant a refund even if you owe no taxes.
Early March estimates from the IRS suggest there might be more than $1 billion in unclaimed refunds from the 2021 tax year, impacting over 1.1 million taxpayers, with the median refund sitting at $781. These numbers don’t factor in additional credits like the recovery rebate credit.
A word of caution: As we navigate tax season, it’s crucial to be wary of scams. Stay informed and protect yourself.
### You Need ‘Proof’ of Filing by the Deadline
With several free options to tackle your tax returns, keep in mind some may not support electronic filing for 2021 returns, warns Nassau.
If you do have to send in your 2021 return by mail, using certified mail is crucial. It ensures you have “proof” that your return was sent by April 15. Nassau advises this, mentioning, “I’ve had situations where the IRS receives something after the filing due date and they automatically say it’s too late. Spending that extra $5 for certified mail is worth it.”
