IRS sends stimulus checks. How much are you entitled to?

Texans who did not receive a stimulus check from the Recovery Rebate Credit in 2021 could receive a surprise deposit.

The Internal Revenue Service has announced it will begin issuing payments later this month to a million taxpayers who did not claim them when they filed their 2021 tax returns.

The IRS said the decision was made after reviewing internal data showing that eligible taxpayers who filed a tax return did not claim the credit. The Recovery Rebate Credit is, according to the IRS, a “repayable loan for individuals who did not receive one or more Economic Impact Payments (EIP), also known as stimulus payments.”

“When we looked at our internal data, we found that one million taxpayers had failed to claim this complex credit even though they were actually eligible,” IRS Commissioner Danny Werfel said in a news release. “To minimize hassle and make this money available to eligible taxpayers, we are making these payments automatically, meaning these individuals do not have to go through the extensive process of filing an amended tax return to receive them.”

How can you get a stimulus check and how do you know if you are eligible? Here’s what you should know.

What do I need to do to receive a stimulus check?

According to the IRS, eligible taxpayers don’t need to do anything to receive the stimulus payments, which were automatically distributed in December and should arrive by the end of January this year.

Taxpayers will receive the payments either via direct deposit or check, the IRS said. Payment will be deposited directly to the bank account listed on the eligible individual’s 2023 tax return or sent to the address of record.

How do I know whether I am entitled to the funding payment?

Eligible taxpayers will receive a separate letter informing them of the incoming stimulus payment.

In addition to the notification letters, taxpayers can also check their 2021 tax returns to see if they left the Recover Rebate Credit field blank or filled it with $0. The IRS says the recipients of the payment are “taxpayers whose IRS records indicate eligibility for the credit.”

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IRS sends stimulus checks. How much are you entitled to?

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