The IRS announced on Friday it will distribute $2.4 billion in “special payments” to approximately 1 million individuals. These payments aim to ensure Americans who missed out on federal stimulus checks during the pandemic receive their funds.
Payment Details
Each recipient could receive up to $1,400, depending on eligibility, the agency confirmed in a statement.
“To streamline the process and minimize hassle, we’re making these payments automatic. Eligible taxpayers won’t need to go through the lengthy process of filing an amended return to claim their payment,” said IRS Commissioner Danny Werfel.
Who Qualifies for the Payments?
The IRS identified individuals who had filed tax returns but failed to claim the “recovery rebate credit” in 2021.
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The recovery rebate credit was designed for those who didn’t receive all or part of the three pandemic-era stimulus payments authorized by lawmakers. Two payments were issued in 2020, followed by a third in 2021.
Most eligible taxpayers have already received these payments directly or claimed the credit in prior tax filings.
Application Process
No application is necessary. The IRS confirmed that payments would be issued automatically to individuals who filed tax returns and qualified for the recovery rebate credit but didn’t claim it. Recipients will also receive a letter notifying them of their upcoming payment.
Payment Timeline
The IRS plans to send payments in December, with most recipients expected to receive their funds by late January 2025.
Payments will be delivered via direct deposit to bank accounts or mailed as paper checks.
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