[ad_1]
The IRS has sent SURPRISE letters detailing cash benefits to qualifying Americans. More than 9 million families have received written communications on untouched cash.
Those who look to qualify for the tax credits and rebates but did not file their 2021 tax return are being sent correspondence from the government, according to Fortune.
IRS Commissioner Chuck Rettig said in a statement: “Even if they aren’t required to file a tax return, they may still qualify for several important credits.
“We don’t want people to overlook these tax credits, and the letters will remind people of their potential eligibility and steps they can take.”
Last year, the Covid-related American Rescue Plan Act rose the Child Tax Credit from $2,000 to $3,600 and made up to half of those funds payable in advance, Fortune reported.
This is exactly the money that non-filers may be missing out on.
A third stimulus check was also included in the bill, and up to $1,400 was awarded to eligible taxpayers and their dependents.
While the benefits are available to those who may not be required to file a tax return, likely due to low income, filing taxes is a precedent of receiving the payment.
Anybody who has yet to take advantage of this tax relief still has a chance, as long as they file a federal tax return.
The IRS has an easy Free File form, and there is no penalty for late filing.
Up to $12,500 in yearly income for an individual and $25,000 for joint filers is still considered under the threshold for needing to file.
However, those interested in filing can do so with a simple tax return and still get backpay for their stimulus and Child Tax Credit.
In 2021, millions remained above the poverty line thanks to the stimulus payment.
Receiving federal relief payments does not interfere with a person’s ability to receive other beneficial aid from the government, like Supplemental Security Income, or Supplemental Nutrition Assistance Program benefits.