You Still Have Time to Claim the Third Stimulus Check

3 min
Published on: 22-04-2024 Last modified on: 22-04-2024

Summary

If you missed the third stimulus check, you can still claim it on your 2023 tax return. Working with a tax advisor ensures accurate filing and maximizes your chances to receive this benefit. Contact Americans Overseas for expert assistance to navigate this process smoothly and secure your payment

Although the American Rescue Plan Act’s third stimulus payments were initially distributed in 2021, many Americans may still be unaware that they have a chance to claim their third stimulus check. If you didn’t receive your full third stimulus payment—or any at all—there’s still an opportunity to correct this on your 2023 tax return.

Third Stimulus Check

Starting in March 2021, over 175 million third stimulus payments, totaling more than $400 billion, were sent out. Each eligible individual could receive up to $1,400, plus additional amounts for dependents. The IRS announced that all initial payments had been made as of January 2022, but discrepancies remain for some taxpayers.

Eligibility for the Third Stimulus Check

To be eligible for the full third stimulus payment, you must be a U.S. citizen or resident alien, not claimed as a dependent on another taxpayer’s return, and meet the following income criteria:

  • $150,000 if married and filing jointly
  • $112,500 if filing as head of household
  • $75,000 if filing singly

Payments decrease for higher incomes and stop entirely for singles earning above $80,000, heads of households earning above $120,000, and married couples earning above $160,000.

How to claim your missing payment check

If you missed receiving your third stimulus check, it’s important to understand that you still have an opportunity to claim it. The possibility to claim the first and second stimulus checks has expired, as these were only valid for claims within three years of issuance. However, the third stimulus payment can still be claimed through your 2023 tax return.

To ensure you receive this benefit, it’s advisable to work with a tax advisor who can handle the specifics of your case. The process involves several key steps that need to be handled carefully to ensure you receive the credit you’re entitled to:

  • Engage a tax advisor: Contact a professional tax advisor who can assess your eligibility for the third stimulus payment. This step is crucial as it avoids the complexities and potential errors that might arise if attempting to navigate the tax laws and filing process on your own.
  • Streamlined Procedure : If you’re undergoing the Streamlined Procedure to catch up on unfiled tax returns, you may also be entitled to claim the third stimulus check. This opportunity allows you to address past oversights while potentially receiving additional financial benefits.
  • Filing your tax return: Your tax advisor will prepare your 2023 tax return, incorporating the Recovery Rebate Credit for the third stimulus check if you are eligible. This approach not only ensures compliance with tax laws but also maximizes your chances of receiving all benefits you qualify for.

What if your stimulus check was lost or stolen?

If you suspect that your stimulus check was lost in the mail or stolen, you can request the IRS to trace the payment. If it has not been cashed, the IRS will credit your account, and you can claim this amount as the Recovery Rebate Credit on your tax return.

If you were overlooked during the initial distribution of the third stimulus checks or received less than your full entitlement, you still have a chance to claim what you’re owed by filing your tax return. 

Take the necessary steps to determine your eligibility and ensure your tax return is accurate. This opportunity provides a crucial financial boost for many during these challenging times, so make sure to take action promptly to secure your third stimulus payment.

Need more information about claiming your Third Stimulus Check?

Since 2015, Americans Overseas has built a network of tax advisors who have experience in preparing tax returns for a US person living and/or working outside of America. A referral to one of our partners is voluntary and without any obligation.

The partners vary greatly; one specializes in simple tax returns with corresponding low costs, while the other partner specializes in extremely complex tax returns, such as those involving multiple businesses in different countries. This way, Americans Overseas can refer you to the right tax advisor.

Contact us for more information

 

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