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IRS to Distribute $1,400 Payments to 1 Million Taxpayers

Writer's picture: Family CompassionFamily Compassion

The Internal Revenue Service (IRS) is set to distribute special payments of up to $1,400 to approximately 1 million taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.


These payments, totaling about $2.4 billion, aim to assist individuals who missed out on previous Economic Impact Payments, commonly known as stimulus checks.


Eligibility and Distribution Details:

  • Automatic Payments: Eligible taxpayers who filed a 2021 tax return but either left the Recovery Rebate Credit field blank or entered $0, despite qualifying for the credit, will receive these payments automatically. No additional action is required from these individuals.


  • Payment Timeline: The IRS plans to initiate these payments in December, with most recipients expected to receive their funds by late January 2025.


  • Payment Method: Funds will be directly deposited into the bank account listed on the taxpayer's 2023 tax return or sent via paper check to the address on record.


  • Notification: Recipients will receive a separate letter from the IRS confirming their eligibility and the payment amount.


Recovery Rebate Credit Overview:

The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more of the Economic Impact Payments.


Action for Non-Filers:

Taxpayers who have not yet filed their 2021 tax returns may still be eligible to claim the Recovery Rebate Credit. The IRS emphasizes the importance of filing a return by the April 15, 2025, deadline to claim this credit and any other potential refunds.


Additional Information:

For more details on eligibility and payment calculations, taxpayers can refer to the IRS's official website.


This initiative reflects the IRS's commitment to ensuring that all eligible taxpayers receive the financial support intended for them during the pandemic.

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