the letter explains the recovery discount credit

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(WJW) – Those who received a third stimulus check in 2021 are expected to receive a letter in the mail from the Internal Revenue Service (IRS) soon.

“People who receive these letters should keep them,” the IRS said in a statement. “Don’t throw them away. “

The letters are intended to help you with your 2021 tax returns by explaining in more detail how to claim your economic impact (stimulus) payments – which are not taxed but must always be claimed.

Are you eligible and required to apply for a recovery rebate credit? The cover letter will walk you through the process, telling you how much stimulus money you have received, including any “extra payments” and any extra dollars you are still owed.

Valued at up to $ 1,400 to recipients and dependents, the third stimulus checks began to be sent out last March.

Letters are expected to start sending by the end of January. A separate letter is also being sent to families who received child tax credit payments last year.

Learn more about filing your tax returns, which are due April 18, here.

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