If you weren't required to file a tax return because your income was limited last year, you're still in time to claim your $1,400 third stimulus check sent in 2021 and your Extended Child Tax Credit payments, starting in May. .
As of 2020, limited-income families can claim certain credits that correspond to them through the simplified filing method, which allows the taxpayer to provide basic information to the Internal Revenue Service without filing a complete tax return.
Access to online forms that allow you to claim these credits was not available until after tax season ended on April 18, according to Treasury regulations. So starting in May, you will be able to access the IRS Non-Filer and GetCTC tools, from Code For America, to claim certain credits such as the Child Tax and the third stimulus check.
These tools were available last year to people earning $12,400 or less a year, and couples earning less than $24,800.
Once GetCTC launches in early May, it will be available for another six months.
YOU CAN CLAIM THE CHILD TAX CREDIT STARTING IN MAY
The Child Tax Credit is given in full to taxpayers who earn less than $75,000 a year and married couples filing jointly with income less than $150,000. The amount decreases as income increases.
YOU CAN STILL FILE TAX RETURN IF YOU ARE DUE A REFUND
The deadline to file taxes and pay what is due to the IRS was April 18, but the tax agency indicated in a press release published on April 19 that taxpayers who expect a refund do not receive penalties for filing after the date. limit.
“Families who do not owe taxes to the IRS can still file their 2021 tax return and claim the Child Tax Credit for the 2021 tax year any time through April 15, 2025, without penalty. This year also marks the first time in history that many families with children in Puerto Rico will be eligible to claim the Child Tax Credit, which has been expanded to provide up to $3,600 per child, the IRS press release says.
The agency also encouraged people to file a tax return using IRS Free File, available on IRS.gov through Oct. 17 to prepare and file returns electronically. At the same time, he indicated to taxpayers who have tax debt, that they should file the declaration and the payments as soon as possible to avoid fines.