The IRS has announced plans to distribute $2.4 billion in stimulus payments to approximately one million taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns. Payments are expected to begin later this month, with most arriving by late January.
Who is Getting This Money?
This special distribution targets taxpayers who filed their 2021 returns but either entered $0 or left blank the line for the Recovery Rebate Credit. The IRS has identified these individuals through internal data analysis.
How Much Will I Receive?
Eligible individuals can expect a maximum payment of $1,400.
Do I Need to Do Anything to Get My Payment?
No action is required. The IRS will automatically send payments via direct deposit to the bank account listed on your 2023 tax return or by paper check to your address of record. You will also receive a separate letter notifying you of the payment.
What If I Didn’t File My 2021 Taxes?
If you did not file a 2021 tax return, you may still be eligible for the Recovery Rebate Credit. You have until April 15, 2025, to file your 2021 return and claim the credit, along with any other potential refunds.
How Will I Receive My Payment?
Payments will be automatically sent via direct deposit (to the bank account provided on your 2023 tax return) or by paper check to your address of record.