The IRS is issuing over $1,200 in direct deposits this April through the Recovery Rebate Credit, available to eligible taxpayers who missed their third Economic Impact Payment (EIP) or received less than expected. To qualify for up to $1,400 per person, individuals must file their 2021 tax returns by the April 15, 2025 deadline. Eligibility includes U.S. citizens or resident aliens who are not dependents, have valid Social Security numbers, and meet income requirements. The article outlines how to claim the credit, suggests gathering necessary documentation, and addresses common mistakes to avoid. The Recovery Rebate Credit can provide significant financial relief amid rising costs.
