If you haven’t received your $1,200 stimulus check yet, there’s still time. But you better act fast.
The IRS has sent letters to about 9 million Americans who have not received a stimulus check reminding them to submit their information by Nov. 21. That includes students, as well as individuals and families who normally don’t file tax returns, usually because of low income.
For those who normally don’t file returns, you have until 3pm EST on Saturday to register for an Economic Impact Payment. You may also qualify for a payment of $1,200 for a spouse and $500 for each eligible child.
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You can use the IRS’s nonfiler tool to register to receive their payments this year if you don’t usually file a tax return. Those who do not have access to the online tool can file a simplified paper return instead.
If you don’t act sooner, you can still get your money if you qualify, but you’ll have to wait until next year and claim it as a chargeback credit on your 2020 income tax return.
“If people file their 2020 taxes next year and didn’t qualify for an Economic Impact Payment this year, they may be eligible for the Recovery Rebate Credit,” the IRS said on its website. Economic Impact Payment, except that the amounts are based on assessment year 2020, instead of assessment year 2019 or assessment year 2018, information.”
Anyone who has received the full amount of the Economic Impact Payment in 2020 for both themselves and their eligible children will not be able to get the credit, the agency said.
To be sure, individuals must meet the qualifications to get a direct payment. That includes having a valid Social Security Number, possessing U.S. citizen or resident status as a foreign national, and not being claimed as someone else dependent on a federal income tax return.