Virgin Islanders who never claimed one or more pandemic-era stimulus payments may now be getting a catch up check from the Internal Revenue Service.
In an advisory published last week, the IRS announced plans to “issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax returns.”
While most eligible tax payers did claim and receive the credit, a review of internal data revealed that “one million taxpayers overlooked claiming this complex credit when they were actually eligible,” said IRS Commissioner Danny Werfel. The credit was available to those who missed out on one or more Economic Impact Payments, i.e. stimulus checks.
The payments will go out automatically, “meaning these people will not be required to go through the extensive process of filing an amended return to receive it,” Mr. Werfel stated. Eligible taxpayers will receive a letter from the agency, and the actual payments, up to $1400, will either be direct deposited, or issued via paper check. The payments are expected to be in the hands of eligible taxpayers by late January 2025, the IRS said.
Some individuals yet to file income tax returns for 2021 may also be eligible for the payments, however those returns must be in by April 2025 for persons to retain the ability to claim the credit and any other refunds.
“These payments are an example of our commitment to go the extra mile for taxpayers,” said Commissioner Werfel.
