The IRS strongly encourages individuals who are not required to file a tax return to file one this season to claim potentially thousands of dollars in tax credits. By filing a tax return, individuals could claim:
- The Recovery Rebate Credit to receive any remaining 2021 stimulus payments that they might not have received (for example, if they added a new child or other dependent in 2021);
- The remaining Child Tax Credit for which they are eligible, including any monthly payments that they might not have received (for example, if they added a new qualifying child in 2021); and
- The Earned Income Tax Credit, the federal government’s largest refundable tax credit for low- to moderate-income families (the amount of which has been nearly tripled for filers without children).
IRS Free File is a great option for eligible taxpayers who are only filing a tax return to reconcile 2021 advance payments and claim the remaining portion of their Child Tax Credit or to claim the 2021 Recovery Rebate Credit, either because they didn't receive a third-round Economic Impact Payment or did not receive the full amount. IRS Free File can also be used to claim the Earned Income Tax Credit, which provides a refundable tax credit based on a filer's income and family size.
And the Tax Counseling for the Elderly (TCE) program offered by AARP, offers free tax help for all taxpayers, particularly those who are 60 and over, specializing in questions about pensions and retirement-related issues unique to seniors.
