The Internal Revenue Service on Thursday released frequently asked questions (FAQs) on the 2021 Recovery Rebate Credit ahead of tax filing season.
Individuals who didn’t qualify for, or didn’t receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information, the agency said.
Individuals may have received their third Economic Impact Payment through initial and “plus-up” payments in 2021.
The third Economic Impact Payments are different from the monthly advance Child Tax Credit payments that the IRS disbursed, it noted.
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