Millions of Americans received a £1,085.98 ($1,400) stimulus payment—but what if yours never arrived? If you're wondering why you missed out on this crucial financial support or whether you can still claim it, you're not alone.
If you didn't file your 2021 taxes, you could be missing out on cash. The IRS is still issuing £1,085.98 ($1,400) stimulus payments to around a million people who never received them the first time.
How Payments Are Being Distributed
The IRS automatically sends out these payments because people first had to claim this credit themselves. This helps make sure everyone who qualifies gets the money they're due.
This is called the Recovery Rebate Credit, and it's designed to help you get any 2021 stimulus money you might have missed. You can still claim it if you qualify but didn't get the payment. Remember, you must file a 2021 tax return by 15th April 2025.
You'll receive the payment directly to your bank, based on your 2023 tax information, or by a physical check.
Understanding The Stimulus Credit
This stimulus payment from the 2021 American Rescue Plan was the last round of financial aid sent out to help people during the COVID-19 pandemic. The payment can be as high as £1085.98 ($1,400) for each individual; the final amount is determined by income. As income increases, the payment decreases.
Single filers: If you filed as single, you'll get the full £1085.98 ($1,400) if your 2021 income was £58177.42 ($75,000) or below. The payment amount starts to go down if you make more than $75,000, and you won't get anything if your income is £62055.91 ($80,000) or higher.
Married filing jointly: If you and your spouse filed jointly, you'll get the full £2171.96 ($2,800) if your combined 2021 income was £116354.84 ($150,000) or less. The payment amount starts to decrease if you earn over £116354.84 ($150,000), and you won't receive any payment if your combined income is £124111.82 ($160,000) or more.
Dependents: The IRS says if you had dependents in 2021, you could get an extra $1,400 per dependent, no matter their age. However, just like the main payment, this extra amount is also affected by your income. As your income goes up, the amount you get for each dependent could go down or disappear entirely.
The 15th April Deadline
Since announcing this in December, the IRS has been automatically sending payments to those who qualify. This includes people who filed their taxes but left the Recovery Rebate Credit section blank or put £0 ($0) yet still met the requirements.
This leaves those who haven't filed taxes yet. You must file by 15th April to claim this credit. After that, you'll likely miss out, as the IRS typically only allows you three years to claim refunds or credits, according to a CNBC Make It report.
Don't let unclaimed money slip away. If you suspect you might be eligible for the £1085.98 ($1,400) Recovery Rebate Credit, take action now. Review your 2021 income against the IRS guidelines and gather your necessary tax documents.
Filing a 2021 return before the 15th April 2025 deadline could mean a significant financial boost. This is your chance to secure funds intended to provide relief during a challenging time.
