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What is the Recovery Rebate Credit?

Many taxpayers received Economic Impact Payments during 2020 and 2021 in response to difficult economic conditions caused by the COVID-19 pandemic. If you have not yet received the first or second stimulus payments from 2020, you may be eligible to claim the Recovery Rebate Credit on your 2020 tax return. Additionally, if you did not receive the third payment from the 2021 stimulus, you should be able to claim it on your 2021 tax return. Due to the coronavirus epidemic, the U.S. Treasury Department issued an Economic Impact Payment (EIP) to eligible taxpayers twice during the 2020 tax year. The amount