A surprising financial boost is on its way for about a million Americans: a $1,400 stimulus check from the IRS. If you missed out on this pandemic-era benefit, now’s your chance to get what you’re owed. Let’s break down the details and explain why this unexpected windfall is happening now.
Background
The IRS recently reviewed its records and identified individuals who qualify for the Recovery Rebate Credit but didn’t claim it during the initial rollout. This credit accounts for stimulus payments provided during the pandemic, and many taxpayers either missed out or made errors in claiming it.
Fortunately, the IRS has decided to distribute these payments automatically, ensuring eligible recipients don’t have to lift a finger.
Timing
The payments will begin rolling out in December 2024 and may arrive just in time for the holidays or early in 2025. Recipients will either see a direct deposit in their bank account or receive a paper check by mail. Expect a notification letter from the IRS confirming the payment’s dispatch, making it as seamless as tracking an online order.
Eligibility
Wondering if you qualify? These payments target individuals who:
- Filed their 2021 tax returns but omitted the Recovery Rebate Credit or reported it as “0.”
- Have yet to file their 2021 taxes.
If you fall into the second category, there’s still time. Filing your 2021 tax return by April 15, 2025, could secure your payment. Changing bank accounts recently? No problem. The IRS will send a check to your address if the direct deposit bounces back.
Payment Scale
The IRS plans to distribute a total of $2.4 billion among eligible Americans, averaging $1,400 per person. This initiative underscores the agency’s commitment to simplifying the process for taxpayers, as noted by IRS Commissioner Danny Werfel.
“We want to make sure this money gets to the people who need it without unnecessary hassle,” Werfel emphasized.
What to Do Now
If you think you’re eligible, be patient. Payments will find their way to you automatically. For those who haven’t filed their 2021 taxes, act now to avoid leaving money on the table. Filing late might still qualify you for this significant refund.
This unexpected $1,400 could be a game-changer for many—whether it’s used for holiday shopping, catching up on bills, or starting the new year with a fresh financial outlook.
FAQs
Who qualifies for the $1,400 check?
Those who missed claiming the Recovery Rebate Credit on 2021 taxes.
When will the payments be sent?
Payments begin in December 2024 and continue into early 2025.
What if I didn’t file 2021 taxes?
You can still file by April 15, 2025, to claim the payment.
How will the payment be delivered?
Via direct deposit or mailed check, depending on IRS records.
How much money is being distributed?
The IRS is sending $2.4 billion across one million recipients.
