The deadline for eligible Americans to claim the $1,400 Recovery Stimulus Check from the IRS is fast approaching, with April 15 being the cut-off date. This program caters to individuals who missed their tax refund by not submitting their return in 2021. IRS Commissioner Danny Werfel emphasized the IRS’s commitment to ensuring eligible taxpayers receive the support they deserve.
Many individuals base their spending on tax refunds, with a recent survey by Talker Research showing that 52% of Americans view their refund as crucial for budgeting essentials like rent, groceries, and debt repayment. Surprisingly, 8% plan to indulge in luxuries such as fashion, entertainment, and tech gadgets, underscoring diverse refund utilisation preferences.
Key Takeaways:
- April 15 is the final deadline to claim the stimulus check; missing it means the loss of $1,400.
- Tax refunds play a critical role in budgeting for many, focusing on necessities and debts.
- Eligibility for the Recovery Rebate Credit is influenced by adjusted gross income.
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Question: Are you planning to apply for the Recovery Rebate Credit before the deadline? Share your thoughts!
