The IRS has made a last call to those taxpayers who had no obligation to file for a 2020 tax return. In fact, time is running out because the deadline to file for a 2020 tax return will be on May 17, 2024.

Therefore, it is really important that taxpayers who did not file for the 2020 tax refund do it ASAP. Otherwise, the Treasury would get all the money left from the $1 billion pot.

GET A STIMULUS CHECK ON YOUR 2020 TAX REFUND SAYS IRS

Even if the IRS has repeatedly informed taxpayers that they could receive a large stimulus check, some have not filed yet. The Internal Revenue Service has revealed that it is not a thousand people or hundreds who have not claimed this free money.

Actually, as of May 6, 2024, the IRS claimed that approximately 1 million people did not file their 2020 tax return. Therefore, they may be eligible for some free money.

To know if you qualify for a stimulus check way, you can use an IRS tool. Remember that the only way to receive a stimulus check is by filing a tax return for 2020 or 2021. Make use of the tool known as ITA (Interactive Tax Assistant) or the program VITA. Hiring a professional may also be useful.

WHAT CAN YOU LOSE IF YOU DO NOT FILE BY THE DEADLINE THE IRS SET?

For your information, you could be missing out on taxes withheld or paid in 2020. However, you could also say goodbye to the Earned Income Tax Credit and the Recovery Rebate Credit.

Of course, depending on your personal situation, you may also qualify for other credits. So, it is not just about a stimulus check and the taxes withheld in 2020.

Do not forget that the Recovery Rebate Credit is a refundable payment. So this stimulus check could turn into free money in your bank account. If you filed your 2020 tax return, you could still file for your 2021 tax return says the IRS.