IRS Updates Guidance on Claiming Missed Covid Stimulus Payments

The IRS on Friday updated its guidance outlining how people who didn’t receive stimulus payments last year can claim them.

The economic impact payments authorized in pandemic relief legislation were structured as advanced payments of a tax credit. The IRS guidance, issued in the form of “frequently asked questions,” covers the two payments authorized in 2020, which many people either didn’t receive or received the incorrect amount.

• The initial stimulus payment of up to $1,200 a person and $2,400 per couple, plus $500 for each qualifying child, was enacted in March 2020. The second round, passed in December 2020, allowed ...