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Time is running out to claim this COVID-era tax credit, IRS warns

Wednesday, March 6, 2024 at 12:00 AM

(NEXSTAR) – In May, a tax credit created during the COVID-19 pandemic will expire.

People who haven’t yet filed a tax return for 2020 may still be eligible for the Recovery Rebate Credit, according to the Internal Revenue Service (IRS), but they’ll have to file a return by the May 17, 2024 deadline.

The credit is refundable, meaning taxpayers who don’t owe anything will still benefit from it, and was distributed to people who didn’t receive a stimulus check in 2020 or 2021.

While most people have already received the COVID-era stimulus checks, some whose income threshold didn’t require them to file taxes, for example, may have been overlooked.

People who are missing a payment or didn’t receive the correct amount can claim the tax credit by filing their 2020 return. The deadline for claiming the 2021 Recovery Rebate Credit isn’t until April 15, 2025.

The full article is available at ozarksfirst.com.

(Story by Jeremy Tanner, NEXSTAR, found at ozarksfirst.com)

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