Interest money

Have you received all your stimulus money? Check this letter from the IRS to make sure

Every American who received a third stimulus check should receive IRS letter 6475 in the mail.

Angela Lang/CBS

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Wednesday, the The IRS announced that he had disbursed all the stimulus checks of the third round of the US rescue plan, but you could still receive more stimulus money. A critical notice from the IRS that you will need to get extra money is Letter 6475, Your Third Economic Impact Payment. This is the official record of your “economic impact payment”, or stimulus money, for 2021.

Most Americans received their full stimulus check payments in 2021. However, if you are unsure, letter 6475″ will help Economic Impact Payment recipients determine if they are eligible and should claim the recovery rebate credit on their 2021 tax returns when they file in 2022″, according to the tax authorities.

In this third round of Economic Impact Payments, the IRS sent Americans more than 160 million checks for up to $1,400 per adult, plus an additional $1,400 for each dependent. If you had a new baby or added an eligible child to your family in 2021, you are entitled to an additional $1,400 for each new child.

Moreover, the the third stimulus payment was based on 2020 taxes. If you made less money in 2021, you will need letter 6475 to claim any additional amounts from an adjusted recovery tax credit on that year’s tax return.

If you never received a third stimulus check, you will not receive letter 6475. Instead, you will need to create an IRS online account to see the amount of your Economic Impact Payments. If you confirm that you did not receive a third stimulus check and are eligible, you can get this money by claiming the recovery rebate tax credit on your 2021 tax return.

Here’s how to make sure you get all the stimulus money you are entitled to. Also learn how parents can increase in the child tax credit in 2022 and when to file your taxes this year.

Why is the IRS sending me letter 6475?

“Economic Impact Payment Letters contain important information that can help people file their taxes quickly and accurately,” the IRS said in a January statementincluding personal information – like your name and address – and the total amount sent in your third stimulus payment.

This could include “plus-up” payments, the extra funds the IRS sent to people who were eligible for a higher amount based on their 2019 or 2020 tax returns, or information received from Social Security. Administration, the Department of Veterans’ Affairs or the Railroad Pension Fund.

You may have already received a 1444-C letter, which showed the amount you were paid and how it was delivered, but that’s not what you want to use to prepare your 2021 return.

Do I really need to keep the letter?

You should always keep documents related to the tax return, says Marc Steberdirector of tax information at Jackson Hewitt: W2s, interest statements and letters from the IRS are a good record of your account “in case something happens in the next two or three years,” he says.

“It’s always important, but especially important if you have more money to pay – especially if you’ve had a new baby, adopted a child, welcomed a child, it’s your year for shared shared custody or a a number of additional life changes,” Steber told CNET. “All of these situations would lend themselves to an additional payment.”

What to do with Letter 6475?

Keep it until you or your tax preparer are ready to file your 2021 federal return, then use the amount shown on your recapture rebate worksheet to determine if a credit applies.

“Having the wrong amount on your return could trigger a manual review,” according to the H&R Block websitewhich could delay a refund for several weeks.

What if I can’t find my letter?

If you don’t receive the 6475 letter (or if you lose it), you can find your stimulus payment information in your IRS account. If you don’t have one configured, you can create an ID.me account to the IRS website to verify your details.

For more, here’s what to do with that letter from the IRS for your child tax credit payments and how to declare your taxes on your phone.