In December 2024, the Internal Revenue Service (IRS) made an unexpected announcement that sparked the curiosity of millions: automatic payments will be issued to certain taxpayers. But what does this really mean and who benefits? We’ve done the research and found all the information our readers have been asking for weeks.
The IRS revealed that a surprising number of taxpayers—close to one million—did not claim the Recovery Rebate Credit on their 2021 tax returns, an incentive that could have provided significant financial relief. “As we analyzed our internal data, we realized that one million taxpayers overlooked the ability to claim this complex credit,” explained IRS Commissioner Danny Werfel.
Are you eligible for an IRS stimulus check?
The IRS has determined that most people who met the requirements have already received their share of the credit or previously obtained stimulus checks. But the good news is that those who filed their 2021 taxes and left the field related to the recovery credit blank are the ones who could receive a special payment.
If you thought all hope was lost, think again. Even if you didn’t file your 2021 tax return, you could be one of the lucky ones! You just need to file those forms by April 15 for a chance to claim it.
Here comes the part that will make you smile: you don’t have to do anything to claim that juicy check The IRS has announced that these payments will be sent automatically to eligible taxpayers. At the end of January, you could find an unexpected deposit in your bank account or a check in your mailbox, a surprise that could brighten your day.
How much could you receive, and how can I claim the stimulus check?
Amounts vary based on different factors, but the maximum payment is $1,400. It is not surprising that this sum is significant for many. The agency has estimated that the total payments sent would reach approximately $2.4 billion.
IRS payments will be deposited directly into your accounts or sent as a paper check. Additionally, you will receive a separate letter notifying you of the claim.
Danny Werfel, the commissioner of the IRS, also highlighted that by making these automatic payments, they are avoiding unnecessary complications for those who are eligible. “We are making these payments automatic, which means these people will not have to go through the extensive process of filing an amended return to receive it,” the official said.