Stimulus check update – Details on your tax form due to $1,400 checks could mean your IRS filing is delayed
A detail about stimulus checks could make or break the time it takes for the IRS to process your tax return.
Neglecting the amount of money you received in stimulus payments or child tax credits could lead to long delays.
Yahoo News has reported that the IRS is seeing many errors in applying for the recovery rebate credit.
The IRS said it could take several weeks to resolve issues with those federal payments.
It’s likely that many people who deposited forgot they received stimulus money in 2021.
The IRS urges people to check their bank statements for the past year, so you can accurately determine the credits you received.
This is not an uncommon confusion and can be resolved, according to Mark Steber, director of taxes at Jackson Hewitt Tax Service.
Unfortunately, it can take six to 12 weeks to fix the problem.
Those unsure of the stimulus payments they received in 2021 are advised to check IRS letter 6475.
This letter was sent earlier this year to let people know if they were eligible for the recovery rebate credit.
The IRS also sent out letter 6419 in December last year telling people if they could claim the child tax credit this tax season.
In order to avoid delays in your tax return, you should check for either of these letters or any signs of stimulus money on last year’s bank statements.
When to file an amended tax return
If you determine that you have indeed missed your $1,400 stimulus check, you may need to file an amended tax return.
Normally, you must file amended tax returns within three years of the date you originally filed, or within two years of the date you paid the tax, whichever is later.
You will also need certain forms, such as Form 8879, to file an amended tax return.
However, the forms required will vary depending on whether they are filed by mail or electronically.
It can take up to 16 weeks for the IRS to process an amended tax return, so don’t lose hope if it takes a while.
You can use the Where is my amended return? to stay informed of the status of your return.
If you are unsure whether you need to file an amended return, you can use the interactive tax wizard to help you determine if this is the right step for you.
The deadline for filing 2021 returns is Monday, April 18.
It comes as Guaranteed Basic Income checks are sent to hundreds of recipients this month.
And Americans are set to receive $87.3 million in rental assistance – find out if you’re eligible.
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