Jan 13, 2025
(WJW) – The Internal Revenue Service announced last month that individuals who did not receive one, or more, stimulus payments they were eligible for during the height of the COVID-19 pandemic may soon see a check in the mail or a bump in their online bank accounts. According to a press release from the IRS, an estimated $2.4 billion in payments was scheduled to be sent out in December, arriving in bank accounts or mailboxes by late January 2025. The IRS will use bank account and address information from the taxpayer's 2023 tax return to route the payments. MAP: Emergency room visits for respiratory illnesses are soaring in these states The IRS said it took the "special step" to issue the money after data showed many taxpayers who did not receive an Economic Impact Payment (EIP), commonly called a stimulus payment, also never claimed a Recovery Rebate Credit on their 2021 tax returns. “The IRS continues to work hard to make improvements and help taxpayers,” said IRS Commissioner Danny Werfel in the release. “These payments are an example of our commitment to go the extra mile for taxpayers. Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible. To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it.” Most taxpayers have already received their EIP and Recovery Rebate Credit, but the IRS says records show that some qualified taxpayers have not. The IRS says those qualified individuals should have received the credit but when they filed their 2021 tax return they either left the Recovery Rebate Credit field blank or filled it out as $0. "The IRS also reminded taxpayers who haven’t filed 2021 tax returns they might be eligible as well, but they face an April 15, 2025, deadline to file their returns to claim the credit and any other refund they might be owed," according to the agency's website. The payments vary, but the maximum that could be received is $1,400 per individual.
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