by John Waggoner: For Complete Post, Click Here…
Use the Recovery Rebate Credit worksheet to calculate how much you are due.
The Internal Revenue Service (IRS) issued about 160 million stimulus checks to eligible Americans for the first round of economic impact payments (EIP) that began in April. Millions more payments, dubbed EIP 2, started going out in late December for the second round of stimulus. Nevertheless, some people never got their first-round stimulus checks, while others didn’t receive the full amount to which they were entitled. The same will be true for the second round of stimulus payments.
If you didn’t receive money from the first or second round of stimulus payments — or you didn’t get the full amount you should have — don’t give up. You’ll need to file the standard 1040 federal tax return form, or the 1040-SR tax return for people 65 or older, to get your missing stimulus money in the form of a tax credit that will either lower the amount of tax you owe or increase the size of your refund.