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Until November 17 to claim checks and credits from the IRS

Did you get a letter from the IRS letting you know you can claim an aid check, child credit, or earned income credit? The agency recommends taking action as soon as possible and filing your tax year 2021 return to receive the amount for which you are eligible.

And until November 17, you can file your tax return for tax year 2021 for free with the IRS ‘Free-File’ tool. On this page you can access that IRS tool, which can be used by taxpayers with an adjusted gross income (AGI) of up to $73,000 a year.

The relief check and credits available from the IRS can mean thousands of dollars for low- and moderate-income families who are not yet receiving them.

“Many times, individuals and families can get these tax benefits even if they have little or no income from a job, business or other source. This means many people who don’t normally have to file a tax return need to do so this year, even if they haven’t had to in recent years,” advises the IRS.

The agency clarifies that a tax return for the year 2021 can be filed even if the letter has not been received; and that it will not penalize for sending the declaration after the April 2022 deadline has passed.

The fastest way to do this is to file electronically and request that any refund be made to a bank account via direct deposit.

Below, we detail the credits and the amount of the aid check that can be claimed:

The Child Tax Credit or ‘Child Tax Credit’ (CTC)

This credit was only enhanced for tax year 2021 due to the economic blow from the COVID-19 pandemic. It was raised to $3,000 for dependent minors who were 6 to 17 years old until the end of 2021. And it was increased to $3,600 for dependent minors who were 5 years old or younger until the end of 2021.

Even if you received advance payments in the mail last year, you may still be eligible for a portion of the credit, which is why the IRS requires people in that situation to file a 2021 income return.

The Earned Income Tax Credit (EITC)
This credit is given to people with low or moderate income, whether they have dependent minors. As with the child credit, this earned income credit was improved last year. But, importantly, in order to claim it, the person must have registered income from a job.

The IRS specifies that this credit can be up to $1,502 for workers without eligible children, up to $3,618 for those with one eligible dependent child, up to $5,980 for those with two eligible dependent children, and up to $6,728 for those with at least three minor children eligible dependents.

The aid check for $1,400

This is the third stimulus check approved by Congress during the pandemic: the third economic impact payment also known by its acronym EIP3.

Claiming this aid check is key for eligible families, as it is $1,400 for each eligible adult and $1,400 for each minor or dependent adult. Includes babies born in 2021.

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