IRS sends missed stimulus checks to 1 million taxpayers

Did you miss receiving the Recovery Rebate Credit in 2021?

The IRS just announced its plans to distribute the payments starting later this month to 1 million taxpayers who didn’t claim them when filing their 2021 tax returns.

“The IRS announced the special step after reviewing internal data showing that many eligible taxpayers filed a tax return but did not claim the credit,” the agency said in a news release.

While most eligible taxpayers have received their stimulus checks or credits, those who have not can expect to receive their 2021 refund credit in late January if they have not previously received a stimulus check.

Here’s what you should know.

Holiday offers: Shop this season’s top products and special offers, curated by our editors.

Personal Finance:This error in calculating Social Security benefits will cost retirees an average of $120 in 2025

How much money is being sent?

According to the IRS, taxpayers can expect to pay a maximum of $1,400. A total of $2.4 billion will be transferred to those who did not receive the loan.

How do I receive my funding payment?

Citizens do not need to take any action to receive the payments, as they are automatically sent to taxpayers in December and, in most cases, arrive by the end of January.

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

According to the IRS, payments are automatically deposited directly or sent by check.

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.

What happens if I haven’t filed my 2021 taxes?

People who did not file their taxes in 2021 may still be eligible to receive their stimulus checks, the IRS said.

However, they only have until April 15, 2025 to “file their returns to claim the credit and any other refund they may be entitled to.”

Who is entitled to the special payment?

People who entered a value of $0 in the refund credit field or left the section blank on their 2021 tax forms are eligible for the credit.

According to the IRS, the recipients of the payment are “taxpayers for whom IRS data demonstrates that a taxpayer qualifies for the credit.”

Breaking News

Dellupodisabato

IRS sends missed stimulus checks to 1 million taxpayers

Leave a Reply Cancel reply