President Biden signed the American Rescue Plan in March to provide millions of Americans with a third round of stimulus checks.
Moreover, The IRS has already delivered over 171 million payments worth over $400 billion. But some people may still need to get their money.
The IRS estimates that nearly $1.5 billion in unclaimed refunds from the tax year 2019 are waiting for people who haven’t filed their 2019 tax returns yet.
The deadline to claim these refunds is July 17, 2023. If you don’t file by then, you may lose your refund and stimulus check.
“Many people may have overlooked filing a 2019 tax return due to the pandemic. We don’t want people to miss their window to receive their refund,” IRS Commissioner Danny Werfel said.
The IRS offers several ways to help people file their 2019 tax returns and claim refunds and stimulus checks. You can request copies of your income documents from your employer, bank, or other payers.
However, the IRS provides a free wage and income transcript online. Go and get that.
You may also qualify for another program named Earned Income Tax Credit (EITC), a tax break for low-income and moderate-income workers. The EITC can boost your refund by up to $6,557, depending on your income and family size. Check your eligibility on the official website of the IRS.
The amount of your stimulus check depends on your income and tax status. Those who make $75,000 will get the payments, while those above $80,000 will not. For couples filing jointly, the phaseout starts at $150,000 and ends at $160,000.
For household heads, the phaseout begins at $112,500 and stops at $120,000. The IRS said the average median refund for 2019 is $893.
The stimulus check is worth $1,400 per eligible person. That means you could receive $2,293 or more if you file your 2019 tax return before July 17.
Don’t miss this opportunity to get your money. File your 2019 tax return today and claim your refund and stimulus check before the government rescinds them.