The IRS has issued all first, second and third Economic Impact Payments. Most eligible people already received their stimulus payments and won’t be eligible to claim a Recovery Rebate Credit.
The IRS is no longer issuing third Economic Impact Payments. People who are missing a third stimulus payment or got less than the full amount may be eligible to claim a Recovery Rebate Credit on their 2021 federal tax return.
The third round of Economic Impact Payments, including the plus-up payments, were advance payments of the 2021 Recovery Rebate Credit claimed on a 2021 tax return. It was issued starting in March 2021 and continued through December 2021.
IRS Letter 6475 will confirm the total amount of the third Economic Impact Payment and any plus-up payments you received for tax year 2021. If you received the full amount of the third Economic Impact Payment, you don’t need to include any information about your payment when you file your 2021 tax return. Do not include amounts of missing first or second stimulus payments on your 2021 tax return.
If you didn’t qualify for a third Economic Impact Payment or got less than the full amount, you may be eligible to claim the 2021 Recovery Rebate Credit when you file your 2021 tax return. You must file a return to claim the credit, even if you don’t usually file a tax return. The credit is based on your 2021 tax year information, so any third Economic Impact Payments you received will reduce the amount of the credit you’re eligible for. Your 2021 Recovery Rebate Credit will reduce any tax you owe for 2021 or be included in your tax refund.
You will need the total amount of your third Economic Impact payment and any plus-up payments to claim the 2021 Recovery Rebate Credit. Using the total amount of the third payments from the individual’s online account or Letter 6475 when filing a tax return can reduce errors and avoid delays in processing while the IRS corrects the tax return.