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What Is IRS Letter 6475 and Why Will It Give Me a Bigger Refund?

Stimulus

Last year, the IRS issued third stimulus checks to over 175 million Americans, totaling up to $1,400 for each qualifying adult and child.

If you believe you were due a payment, or if you received less than you were entitled to, you must claim the Recovery Rebate Credit on your 2021 federal tax return.

You’ll need to examine IRS Letter 6475, Your Third Economic Impact Payment, which was delivered to recipients earlier this year to confirm the amount of your 2021 stimulus payment.

It covers the entire amount of your stimulus check, as well as any “plus-up” payments.

If you didn’t receive or misplaced your Letter 6475, or if you never received the stimulus money the IRS claims it gave you, here’s what you should do.

Economic Impact Payment letters, according to the IRS, offer crucial information that will help you file your tax return quickly and effectively, including the total amount sent in your third stimulus payment.

This might include “plus-up” payments, which are extra monies provided by the IRS to persons who were qualified for a higher amount based on their 2019 or 2020 tax returns, or information from the Social Security Administration, Department of Veterans Affairs, or Railroad Retirement Board.

Even though stimulus money is not taxable income, you must record it on your IRS tax return.

According to IRS Commissioner Charles P. Retting, the IRS received over 10 million returns in 2020 that improperly misrepresented stimulus money, resulting in human reviews and considerable refund delays.

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You may have already gotten a Letter 1444-C, which details the amount you were paid and how it was delivered, but you won’t need it to file your 2021 tax return.

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