Who needs to claim stimulus cash and recovery rebate on 2021 returns

College grads in the Class of 2020 could face a happy surprise when they file their own 2021 federal income tax returns. Yes, you, too, could be looking at a way to claim up to $1,400 in stimulus money now.

The same’s true if you had a baby back in 2021. Or maybe even saw a much smaller bonus or far less overtime in 2021 than the previous year. 

We’re heard many warnings about why you don’t want to try to double dip and should take extra care before throwing a number on Line 30 of the 1040 to claim the 2021 recovery rebate credit.

Taxpayers face major delays for their federal income tax refunds when they incorrectly claim the recovery rebate credit on a 2021 return after they already received the full amount of the third economic impact payment that was issued last year. 

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