![Tyson Foods Plant [Photo: Food Manufacturing]](https://southarkansassun.com/wp-content/uploads/2023/08/iStock_1185520857__1_.5e441daa51cca-600x337.jpg)
![Silverado Senior Living Management Inc. [Photo: Los Angeles Times]](https://southarkansassun.com/wp-content/uploads/2023/10/download-6-4-600x337.jpg)
![China's Wuhan Institute of Virology [Photo: Nature]](https://southarkansassun.com/wp-content/uploads/2023/09/d41586-021-01529-3_19239608-600x337.jpg)
IRS Urges Eligible Individuals to Claim Unreceived Stimulus Payments Before Deadline
IRS Urges Timely Action to Claim Unreceived Stimulus Funds and Avoid Forfeiting Additional Relief
According to Best Life, the IRS issued a crucial reminder concerning a deadline related to receiving funds from the COVID-19 stimulus payments. These payments were provided by the government to assist individuals during the pandemic. For those who did not receive the full amount or missed out on these payments, they have the option to claim a Recovery Rebate Credit. It’s imperative to note that if you have not yet filed your taxes for 2020, you must do so by May 17, 2024, to be eligible for this credit. This deadline is significant because failing to meet it could mean forfeiting the opportunity to receive any additional funds owed to you.
While many eligible individuals have already taken advantage of this credit, the IRS emphasizes that some may still be unaware of it. It is crucial to submit your tax return, even if your income was minimal, to ensure you don’t miss out on this benefit. Failing to file on time could result in losing out on additional funds owed to you by the government. This reminder serves as a prompt for individuals who may have forgotten or were unaware of this valuable opportunity.
Stimulus Payment: IRS Issues Final Reminder- Are You Eligible? (PHOTO: CNN Politics)
$1 Billion Assistance Program Aids 4.7 Million in Tax Debt, Prioritizing Hard-Hit Individuals
Besides the reminder mentioned earlier, the IRS is helping over 4.7 million people with unpaid taxes, totaling about $1 billion. This support is for those facing financial difficulties due to pandemic-related closures. The IRS noticed that in 2022, they stopped automatically reminding people about the money they owe, leading many to be unaware of extra charges. This help is mostly for those earning less than $400,000 per year. The IRS Commissioner, Danny Werfel, mentioned that they’re trying to assist people who have overdue bills and are providing options for those finding it hard to pay.
READ ALSO: Boost Your Finances: December Stimulus Checks Worth Up To $1000 Set For Release
