The IRS sends unclaimed stimulus checks to 1 million taxpayers. Here’s how to find out if you are one of them
News

The IRS sends unclaimed stimulus checks to 1 million taxpayers. Here’s how to find out if you are one of them

Posted on by Amelia Pressman

Your support helps us tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground as the story unfolds. Whether it’s investigating the finances of Elon Musk’s pro-Trump PAC or producing our latest documentary, “The A Word,” which shines a light on the American women fighting for reproductive rights, we know how important it is is to extract the facts from the messaging.

At such a critical moment in U.S. history, we need reporters on the ground. Your donation allows us to continue sending journalists who speak to both sides of the story.

The Independent is trusted by Americans across the political spectrum. And unlike many other quality news organizations, we choose not to paywall Americans from our reporting and analysis. We believe quality journalism should be available to everyone and paid for by those who can afford it.

Your support makes the difference.

The Internal Revenue Service is sending unclaimed stimulus checks of up to $1,400 to 1 million U.S. taxpayers in the coming weeks.

Here’s why you’re missing payments – and how to find out if you’re eligible for the credit:

Why is the IRS sending these payments?

The IRS found that “many eligible taxpayers” did not claim the Recovery Rebate Credit, a credit for taxpayers who did not receive at least one stimulus payment – also known as “Economic Impact Payments” – on their 2021 tax returns , which went out during the COVID-19 pandemic.

The total cost of these payments will be approximately $2.4 billion. While many factors determine how much money a taxpayer receives, the checks range up to $1,400.

“The IRS continues to work hard to make improvements and help taxpayers,” IRS Commissioner Danny Werfel said in a statement. “These payments are an example of our commitment to going the extra mile for taxpayers.”

The Internal Revenue Service sends automatic payments worth up to $1,400

The Internal Revenue Service sends automatic payments worth up to $1,400 (AP)

How do I find out if I’m eligible?

The IRS is sending checks to people who filed their 2021 tax return but left the “Recovery Rebate Credit” field blank or filled in with $0, even though they are entitled to the money.

Taxpayers don’t have to do anything to get their money. The IRS will send out the payments this month and they will arrive in taxpayers’ bank accounts or at their addresses by the end of January.

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

To find out if you will receive the credit, check your mailbox. The IRS sends letters to those who receive the payment.

If you haven’t filed your 2021 tax return yet, you may be eligible for the refund if you file it by April 15, 2025, the IRS said.

“Eligible taxpayers who have not filed a tax return must file a tax return to claim a refund credit, even if their income from a job, business, or other source was minimal or nonexistent,” the IRS said in a statement.

How likely am I to receive a payment?

Ultimately, according to the IRS, this is not very likely. “Most” taxpayers have already received their stimulus payments or recovery credit.

Leave a Reply

Your email address will not be published. Required fields are marked *