(LAKELAND, Fla.)- Taxes can be a maze, and it's easy to feel lost in the complexity of it all. If you're scratching your head about missed stimulus payments or potential tax credits, fear not—this article is here to shed some light, especially for those who might not typically delve into the intricacies of tax-related matters.
Chances are you've heard about the Economic Impact Payments (EIPs) – those much-needed stimulus checks that came in two rounds, one in 2020 and another in early 2021. Now, here's the catch: these payments were like an advance on a credit called the Recovery Rebate Credit (RRC).
If you didn't get the full amount of your EIPs or missed out on them entirely, there's good news—you might be eligible to claim the remaining sum through the Recovery Rebate Credit when you file your 2020 and 2021 tax returns; with the help of the non-profit law firm Florida Rural Legal Services.
Dates to Remember:
1. For the 2020 Recovery Rebate Credit:
- File your tax return by May 17, 2024, to grab that credit.
2. For the 2021 Recovery Rebate Credit:
- Mark April 15, 2025, on your calendar to file and claim.
Filing for the RRC doesn't need to be rocket science, but it does require a bit of attention. If any of the following scenarios fit you, it's time to consider filing:
1. You missed both rounds of EIP.
2. You got an EIP but not the full amounts of both rounds, and you qualify for the RRC.
Have you claimed your Recovery Rebate Credit (RRC)? If you were eligible and did not receive your Economic impact Payment, then please contact Florida Rural Legal Services for further information at 1-888-582-3410.
