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Missing stimulus payments, tax credits? Here is what you need to know before you file taxes WLS Share: Share: CHICAGO (WLS) The ABC 7 I-Team is finding out what you need to know to get a tax credit for missing stimulus money. Thousands of people who didn t get the first or second stimulus payments they were owed have been told to recoup their money at tax time. But it s not so easy. Before you file a stimulus credit on your taxes, you need to make sure your missing payment has been officially traced. If you didn t get your economic impact payments or if you think you qualify for more than you received, don t worry, if you re eligible you can claim a recovery rebate credit when you file your 2020 tax returns this year, said Kemberly Washington, Forbes advisor and tax analyst. ....
Stimulus Check Update: $1,400 Payments May Affect Tax Returns, Here’s Why 03/12/21 AT 9:41 AM Many Americans are eagerly awaiting their third stimulus checks after President Biden signed his enormous $1.9 Trillion American Rescue Plan into law, but while $1,400 direct payments could arrive in many bank accounts as soon as this weekend, the relief payments could stall other money that Americans might be expecting from their federal income tax returns. With the IRS processing not only tax returns but also the stimulus payments, the newest round could cause a further backlog when it comes to processing tax returns that have been filed, WDAF, a FOX affiliate station reports. ....