IRS Warns Time Running Short for People to Claim COVID-Era Tax Credit Some May Have Missed Out On

The Internal Revenue Service (IRS) has warned about a looming deadline for people to claim a pandemic-era tax break they may have missed, potentially entitling them to unclaimed COVID cash. The IRS said in a March 4 announcement that some eligible individuals didn’t end up collecting economic impact payments—also known as stimulus payments or stimulus checks—that were issued in 2020 and 2021. Those who missed out can still collect the money—and the way to do so is through what’s known as the recovery rebate credit. This is a refundable credit that either reduces the amount of taxes owed, is included in a tax refund, or is simply paid out by the IRS to eligible taxpayers if—after claiming the credit—it turns out they overpaid on their taxes....