IRS to Send 1400 Doller Stimulus Checks – The Internal Revenue Service (IRS) is set to distribute $2.4 billion in stimulus checks to approximately one million eligible U.S. taxpayers who overlooked claiming the Recovery Rebate Credit on their 2021 tax returns. These payments, arriving by late January 2025, are part of the agency’s effort to ensure all qualified individuals receive their owed stimulus funds from the COVID-19 pandemic era.
Automatic Payments- No Action Required
IRS Commissioner Danny Werfel stated, “Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible. To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic.”Key points about the payments:
- Eligibility: Taxpayers who filed a 2021 return but left the Recovery Rebate Credit field blank or entered $0
- Maximum amount: $1,400 per individual
- Distribution method: Direct deposit or paper check
- Timeline: Payments began in December 2024, with most arriving by late January 2025
Eligible taxpayers don’t need to take any action to receive their payment. The IRS will use the bank account information from the 2023 tax return for direct deposits. If the account is closed, a paper check will be mailed to the address on file.
Still Time to Claim for Non-Filers
For those who didn’t file a 2021 tax return, there’s still an opportunity to claim the credit. The IRS encourages these individuals to file their 2021 return by April 15, 2025, to potentially receive the payment.”Even if you had minimal or no income in 2021, filing a return could mean money in your pocket,” Werfel added.
As these payments roll out, eligible taxpayers should keep an eye on their bank accounts or mailboxes. The IRS will also send notification letters to recipients, confirming their eligibility for this special payment.
Also Read – Unconditional Discharge Defined: Everything You Should Know
