INDIANAPOLIS — Some Hoosiers, who believe they are eligible, are still waiting for either one or both of the stimulus checks sent out during the pandemic to millions of Americans.
WRTV spoke with OnTarget CPA’s Michael Jamison about how those individuals can make sure they see that money.
Jamison said on this year’s tax return, people should make sure to claim the "Recovery Rebate Credit." If you are found eligible, the money owed to you will either be added to your refund or subtracted from the balance due.
In turn, college students who may have been a dependent on their parent’s tax return in 2019, but now file as an independent in 2020 will qualify for the credit. The same goes for parents collecting the economic impact payment for a baby born in 2020.
As for talks of a third stimulus check, which is detailed under President Joe Biden’s stimulus proposal, Jamison said not much is known as this point. He said based off of how it has been done in the past, he believes a third stimulus check, if it does happen, would be based off the 2021 tax return.
