#Recovery Rebate Credit

The Internal Revenue Service has issued all third-round Economic Impact Payments. Any remaining stimulus payment people are entitled to on their 2021 income tax return can be claimed as part of the 2021 Recovery Rebate Credit.

The nation’s tax season will start Monday, Jan. 24, when the Internal Revenue Service will begin accepting and processing 2021 tax year returns.

The Internal Revenue Service recently sent approximately 430,000 refunds totaling more than $510 million to taxpayers who paid taxes on unemployment compensation excluded from income for tax year 2020. The refunds averaged about $1,189.