Over a million Americans may claim $1,400 stimulus

Over one million Americans are still able to claim a $1,400 stimulus check. The deadline to do this is approaching quickly. The Internal Revenue Service (IRS) has reminded eligible people to file their 2021 tax return by April 15, 2025. This refund, called the Recovery Rebate Credit, is meant for those who did not receive the third round of stimulus checks during the Covid-19 pandemic. The IRS plans to send payments automatically to qualifying individuals using banking information from their 2023 tax returns. To qualify for the full amount, single filers must have an adjusted gross income of $75,000 or less in 2021. The payment starts to decrease for those earning $80,000 or more. Married couples filing jointly can receive the full $2,800 if their combined income is $150,000 or less, with a phase-out starting at $160,000. Taxpayers usually have three years to file and claim refunds. If they miss this deadline, the money could go to the U.S. Treasury. The IRS will not allow extensions or automatic payments for people who miss the April 15 deadline. Last-minute filers should expect possible delays in processing. In January, the IRS disbursed about $2.4 billion to individuals who filed their 2021 tax returns after missing the Recovery Rebate Credit. Currently, around 1.1 million Americans have unclaimed refunds from tax year 2021, totaling over $1 billion. The median refund for those who have not filed is about $781, excluding the Recovery Rebate Credit.