Stimulus check update: Watch this letter from the IRS to see if you get more money

Every American who received a third stimulus check should receive letter 6475.

Angela Lang/CBS

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Tax season is now upon us, and it’s time to make sure you’ve received all your stimulus money possible. Most Americans received their full stimulus check payments in 2021. However, if you’re not sure you received enough money on your third stimulus check, be sure to keep a eye on Letter 6475, Your Third Economic Impact Payment tax.

As explained by IRS, this letter “will help economic impact payment recipients determine if they are eligible and should claim the recovery rebate credit on their 2021 tax returns when they file in 2022.”

The third stimulus checks were mailed by the federal government between March and December 2021, after the passage of the american rescue plan. In this third round of Economic Impact Payments, the IRS sent Americans more than 160 million checks for up to $1,400 per adult, plus an additional $1,400 for each dependent.

If you think you are qualified for a third stimulus check and you never received one, you will not receive letter 6475. Instead, you will need to create an IRS online account to see the amount of your Economic Impact Payments. If you confirm that you did not receive a third stimulus check and are eligible, you can get this money by claiming the recovery rebate tax credit on your 2021 tax return.

Additionally, if the IRS based your third stimulus payment on your 2019 or 2020 taxes but you earned less money in 2021, you will need the documentation to claim any additional amount of adjusted recovery credit.

Here’s how to make sure you get all the the stimulus money you are entitled to. Also learn how parents can get the rest of their increase in the child tax credit in 2022 and when to file taxes in 2021.

Why is the IRS sending me letter 6475?

“Economic Impact Payment Letters contain important information that can help people file their taxes quickly and accurately,” the IRS said in a January statement, including personal information — like your name and address — and the total amount sent in your third stimulus payment.

This could include “plus-up” payments, the extra funds the IRS sent to people who were eligible for a higher amount based on their 2019 or 2020 tax returns, or information received from Social Security. Administration, the Department of Veterans’ Affairs or the Railroad Pension Fund.

You may have already received a 1444-C letter, which showed the amount you were paid and how it was delivered, but that’s not what you want to use to prepare your 2021 return.

Do I really need to keep the letter?

You should always keep documents related to the tax return, says Marc Steber, director of tax information at Jackson Hewitt: W2s, interest statements and letters from the IRS are a good record of your account “in case something happens in the next two or three years,” he says.

“It’s always important, but especially important if you have more money to pay – especially if you’ve had a new baby, adopted a child, welcomed a child, it’s your year for shared shared custody or a number of additional life changes,” Steber told CNET. “All of these situations would lend themselves to an additional payment.”

What to do with Letter 6475?

Keep it until you or your tax preparer are ready to file your 2021 federal return, then use the amount shown on your recapture rebate worksheet to determine if a credit applies.

“Having the wrong amount on your return could trigger a manual review,” according to the H&R Block website, which could delay a refund for several weeks.

What if I can’t find my letter?

If you don’t receive the 6475 letter (or if you lose it), you can find your stimulus payment information in your IRS account. If you don’t have one configured, you can create an account to the IRS website to verify your details.

For more, here’s what to do with that letter from the IRS for your child tax credit payments and how to declare your taxes on your phone.

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