$1,400 Stimulus Still Available: IRS Distributes $2.4B in Payments

Approximately one million Americans are still in line to receive stimulus payments of up to $1,400 as part of the IRS’s effort to assist taxpayers who missed out on the Recovery Rebate Credit in their 2021 tax returns.

Automatic Payments Rolling Out

The IRS is set to distribute $2.4 billion in automatic payments by the end of 2024. These payments target individuals who were eligible for the Recovery Rebate Credit but failed to claim it.

IRS Commissioner Danny Werfel emphasized the agency’s commitment to supporting taxpayers:

“The IRS continues to work hard to make improvements and help taxpayers. These payments are an example of our commitment to go the extra mile for taxpayers.”

The agency discovered that nearly one million taxpayers qualified for the credit but overlooked claiming it on their 2021 tax filings. Instead of requiring individuals to file an amended tax return, the IRS has opted for automatic distribution to streamline the process.

Who Qualifies for the Stimulus Payment?

These payments apply to:

• Individuals who filed a 2021 tax return but either left the Recovery Rebate Credit section blank or entered $0 despite being eligible.
• Taxpayers who have not yet filed their 2021 tax returns. These individuals must submit their returns by April 15, 2025, to claim the credit.

Also Read – Social Security Raises Payments to $5,108: Are You Set to Receive the New Amount?

How Will the Payments Be Sent?

• Payments will be automatically deposited into the bank accounts listed on taxpayers’ most recent tax returns.
• If a bank account is no longer active, the IRS will mail a paper check to the most recent address on file.
• Eligible recipients will also receive a notification letter from the IRS confirming the payment.

Payment Details and Timeline

The maximum payout per taxpayer is $1,400, though the exact amount varies based on individual circumstances.

The first wave of payments was issued in December 2023, and most remaining payments should be received by the end of January 2024.

For those who still need to file a 2021 tax return, the IRS urges them to do so before the April 15, 2025, deadline to qualify for the credit.

This initiative is part of the IRS’s broader effort to ensure eligible Americans receive the financial support they are entitled to without unnecessary delays or additional paperwork.

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keelee-mccain

Keelee McCain is a junior at Weber High School. This is her second year on staff, this year as Assistant to the Chief. She does have a life (probably) but she can't think of anything to write in here, so she's probably just going to ramble now. She has an orange cat who she likes better than any human. If you see her being quiet or not sitting on top of a desk, there is something very wrong. In her free time she enjoys harassing her favorite teachers and sleeping. Her life plans include making it through high school and leaving. Happy lifeing.

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