The IRS special payments are arriving by the end of January. Will I get a stimulus check?
The IRS announced in December 2024 that it was sending out a round of automatic payments. But when will the money hit your bank account?
According to the IRS, the payments are for eligible taxpayers who didn’t claim the Recovery Rebate Credit on their 2021 tax returns.
The Recovery Rebate Credit is a refundable credit for people who didn’t receive one or more of the Economic Impact Payments, known as stimulus checks.
“Looking at our internal data, we realized that 1 million taxpayers neglected to claim this complex credit when they were eligible,” IRS Commissioner Danny Wuerfel said in a statement.
Here’s what to know about eligibility and how to get your money.
What are the requirements to receive a special IRS payment?
In December 2024, the IRS said that most taxpayers eligible for stimulus checks had already received them or received the Recovery Rebate Credit.
The current IRS payments will go to eligible taxpayers who filed a 2021 tax return but left the Refund Rebate Credit field blank or entered $0. In that case, the taxpayer was eligible for the payment and did not claim the credit.
What if I didn’t file a 2021 tax return?
If you didn’t file a tax return in 2021, you must file it by April 15, 2025, to claim any eligible refunds. According to the IRS, taxpayers who didn’t file their 2021 tax returns may be eligible for the stimulus credit.
What do I need to do to receive a special payment from the IRS?
Nothing. The IRS said no action is necessary for eligible taxpayers to receive their payments.
The agency said it automatically sent out the payments in December 2024, and they are expected to arrive by the end of January.
How much money will I receive from the IRS payment?
Payment amounts depend on “several factors,” but according to the IRS, the maximum a single person can receive is $1,400.
The agency has sent out an estimated $2.4 billion in payments.
How will the IRS payment be sent?
The IRS payments will be deposited directly into a taxpayer’s bank account or via paper check.
Taxpayers who receive the payment will also receive a separate letter notifying them of the claim.
“To minimize headaches and get these funds to eligible taxpayers, we are making these payments automatic, meaning those individuals will not be required to go through the tedious process of filing an amended return to receive it,” Werfel said.
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