If you never received the Stimulus Check or received less than you should’ve, worry no more! When you file your taxes this year, there will be a section just for you called the recovery rebate credit. Now, first, we have to know if your eligible; you can find this information here. Many people received the first stimulus or economic impact payment from the federal government sometime in 2020. Some people received the stimulus check directly deposited, and some got it on debit cards. It was kind of all over the place. And then the government announced there would be a second economic impact payment. Some people got it, and some didn’t; some people have no idea.
The point here is if you got that second stimulus check, fantastic. If you didn’t get that additional stimulus check, you might qualify for the Recovery Rebate Credit when you file your 2020 tax return. Your tax-preparer, or if you’re trying to DIY it, the software you’re using should ask if you received the first and second stimulus check. And if you did not get that double stimulus check, it’s going to go ahead and fill out the Recovery Rebate Credit for you. Now, it’ll be based on your tax situation to determine whether you will get this credit as a refund or if you’ll use it to offset your other taxes. So it’s kind of like you still get it, even though it’s not as fun as getting random money deposited into your bank account from the government.
But make sure you look for the stimulus check. It was $600 per qualifying person, so if you’re single, you probably got 600. If you’re a married couple, you might’ve gotten 1200. Look for that December, January time, and if you didn’t get it, make sure you claim it via the Recovery Rebate Credit. There’s also a place on the IRS website where you can go and check to see if they sent it to you or not. And it’ll tell you if it was direct deposited and the last four digits of that bank account. Make sure you go and get your stimulus check, and if you didn’t, fill out the recovery rebate credit when you file your taxes.
