Millions of Americans are waiting for their tax refunds from the IRS, but one detail about the stimulus check may cause a delay.
If you fail to report the exact amount you were given for child tax credit payments or stimulus checks, you could see a major delay.
The biggest stimulus issue the IRS is seeing are mistakes regarding the recovery rebate credit.
It could take many weeks to resolve that sort of issue.
Stimulus: 13,000 checks worth up to $500 still need to be claimed
Many people who filed and claimed the stimulus cash through the recovery rebate credit forgot they were sent money in 2021.
If you check your bank statements before filing, you could see if you received a payment. You’ll also see how much is may have been for.
To resolve this issue if it happens, it could take up to 12 weeks.
$75 tax rebates being sent to 25,000 Americans
Another way to correctly report your stimulus payment is with IRS Letter 6475. This went out in the beginning of 2021.
Letter 6475 detailed how much you were sent for a stimulus payment.
Check for this letter in addition to your bank statements.
This is to make sure you aren’t claiming the recovery rebate credit when you shouldn’t be.
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