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Residents of the following states who received a state tax refund and either claimed a standard deduction or itemized deductions but didn’t receive a tax benefit — because of the $10,000 ...
Taxpayers who have not yet filed taxes for 2021 may receive a refund if they file and claim the Recovery Rebate Credit by April 15, 2025, even if the income earned from a job, business, or other ...
The IRS announced eligible U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax return are in line to receive a stimulus check.
As many as 1 million taxpayers will receive a "special" year-end gift from the IRS as the agency deposits pandemic-era stimulus checks worth a total of $2.4 billion directly in their bank accounts ...
The IRS says on its website that eligible individuals who did not receive the full amount of both economic impact payments may claim the Recovery Rebate Credit on their 2020 Form 1040 or 1040-SR.
Most taxpayers in the 21 states that sent out stimulus checks or tax rebates in 2022 don’t need to pay taxes on those payments on this year’s federal tax return, the Internal Revenue Service ...
The stimulus payments in 2020 and 2021 were not taxable income because they were actually advance payments of tax credits. A tax credit is a dollar-for-dollar reduction in the amount of your tax ...
But when John later filed his state tax return, he only owed $4,000 to the state government based on his income, so he got a $1,000 tax refund even though he deducted the full $5,000 on his ...