IRS Letter 6575
Haven’t received your third stimulus check? Then there is a good chance that you’re able to claim the recovery rebate credit on your next federal income tax return.
The Internal Revenue Service and Treasury sent the third EIP to taxpayers from March through December of 2021. You can claim the recovery rebate credit on your federal income tax return if you were eligible for the third stimulus but didn’t get anything.
What to do with Letter 6575
The Internal Revenue Service sent Letter 6575 to taxpayers so that they can figure out whether or not they can claim the recovery rebate credit on their returns.
There is also the Letter 6419 for the advance child tax credit payments.
Although a good portion of taxpayers eligible for the stimulus payments received their fair share, those who don’t have their bank account information with the IRS or mail address haven’t. That’s where the recovery rebate credit comes into play, allowing you to get it as part of your refund.
What is the recovery rebate credit?
The recovery rebate credit is a fully refundable tax credit intended to be claimed by taxpayers who haven’t received their stimulus payments, also known as Economic Impact Payments.
If you haven’t seen IRS Treas 310 on your bank account at all, the likelihood of you being qualified for this refundable credit is very high. Read Letter 6575 to see if you’re eligible.