The Internal Revenue Service (IRS) recently announced that individuals who missed out on one or more stimulus payments during the COVID-19 pandemic may soon receive a check or direct deposit. The IRS will issue these payments using the most recent information from 2023 tax returns, including bank account details and addresses.
In December, the IRS scheduled a total of $2.4 billion in Economic Impact Payments (EIPs) to be distributed. These payments are expected to arrive by late January 2025. The decision to issue these automatic payments came after data showed many eligible taxpayers failed to claim the Recovery Rebate Credit (RRC) on their 2021 tax returns, even though they were entitled to the credit.
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IRS Commissioner Danny Werfel emphasized the agency’s commitment to helping taxpayers, stating, “These payments are an example of our commitment to go the extra mile for taxpayers. We found that one million eligible taxpayers missed out on the credit, so we’re making this process easier by issuing automatic payments.”
While most taxpayers have already received their EIP and RRC, the IRS identified some individuals who missed out. These individuals likely left the RRC field blank or filled it in as $0 when filing their 2021 taxes, even though they qualified for the payment.
For those who haven’t yet filed their 2021 tax returns, the IRS advises them to do so by the April 15, 2025 deadline in order to claim the credit and potentially receive any other refunds they may be entitled to.
Payments vary, with eligible individuals potentially receiving up to $1,400 each .
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