IRS to Send $1,400 Stimulus Checks to 1 Million Taxpayers
The IRS has announced an upcoming distribution of special payments, worth up to $1,400 per person, to approximately 1 million eligible taxpayers. This initiative is part of an effort to ensure that Americans who missed out on prior stimulus payments or failed to claim the Recovery Rebate Credit on their 2021 tax returns receive the money they are entitled to.
The payments, totaling $2.4 billion, will be automatically sent out starting this December and should reach recipients by late January 2025. These funds will be deposited directly into bank accounts or sent as paper checks to the addresses on file with the IRS. No action is required from eligible individuals, simplifying the process significantly. According to IRS Commissioner Danny Werfel, the agency identified these taxpayers through internal data and recognized that many had inadvertently overlooked claiming the credit.
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Eligibility for these payments includes taxpayers who filed a 2021 tax return but either left the Recovery Rebate Credit section blank or filled it out as $0 despite being eligible. The IRS will also send out letters to inform recipients about their payments and how they were calculated.
For individuals who haven’t filed their 2021 taxes yet, there’s still an opportunity to claim the credit. They have until April 15, 2025, to file a return and secure their payment.
This distribution reflects the government’s ongoing efforts to assist Americans affected by the economic impacts of the COVID-19 pandemic. During the pandemic, three rounds of stimulus payments were issued, with amounts varying based on income, filing status, and dependents. While most eligible individuals have already received their payments, this latest action ensures that any remaining gaps are addressed.
For those expecting these funds, the news offers some welcome relief, particularly as the nation continues to navigate its economic recovery. Keep an eye on your mail or bank account in the coming weeks—you might just find a little extra financial support arriving soon.
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