A lot of people are going to receive letters from IRS. But before it gets you any more worried, let us tell you that you are not in trouble if you receive one. Stimulus checks and all the dynamics around them have got people confused about if they are eligible for payments or not. But IRS is here to help.
What these letters mean
According to IRS, these people should not throw these letters away. The letters only mean to better inform them about their entitlements. The letter also contains a step-by-step thorough procedure to help people file their tax returns for 2021. So, if you received a letter, it’s not a threat but help that IRS is sending out to everyone receiving federal aid.
Should you apply for a recovery rebate?
If you were eligible for the third stimulus in 2021 but didn’t receive it, you might be in for a tax rebate. The letter will also tell you whether you are eligible and can apply for the same. Not only that, it would contain the details of the exact entitlement and the exact process to apply for it.
Who gets these letters?
People who either received their stimulus checks in 2021 or were eligible for it should be the ones getting the letter. There’s another letter being sent out to families who did receive child tax credits in 2021. If you have received any of these in the last year, you should wait for the letter before filing your taxes. The authority will start sending them out by the end of January.
Since the start of the pandemic, the Federal govt. has been sending out stimulus payments backed by various acts and laws to help people out in times of distress. The last payments of $1400 were made under the third stimulus payment round. To clear the air around 2021 tax filings and rebate eligibility, IRS is sending the letters. Tax filings are due April 18, so if there’s a letter coming your way, you should receive it well before the date.
Do you think you will receive a letter? If you received $1400 in 2021, you definitely will.