Urgent: IRS Distributing Up to $1,400 to 1 Million People—Find Out If You’re Eligible

In an attempt to make sure that Americans who did not receive all of their government stimulus cheques during the pandemic will receive the money in their bank accounts, the IRS announced on Friday that it is sending a total of $2.4 billion in “special payments” to one million people.

According to a statement from the agency, the payouts would differ from person to person and have a limit of $1,400 per beneficiary.

“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,” the IRS commissioner said in a statement.

Who will receive an IRS payment?

After analyzing internal data that revealed many individuals had filed tax returns but failed to claim the so-called “recovery rebate credit” in 2021, the tax agency announced that it is already distributing the monies.

For those who did not receive all or a portion of the stimulus cheques during the epidemic, that credit was created. Three stimulus payments, two in 2020 and one in 2021, were approved by lawmakers.

The majority of eligible taxpayers have already received their stimulus funds, either directly or through the recovery rebate credit.

Does the IRS payment require an application?

No. About a million taxpayers who submitted tax returns and were eligible for the recovery rebate credit but chose not to claim it will receive their reimbursements automatically, according to the IRS.

To inform beneficiaries that they would get the cash, the agency will write to them.

When will the funds be sent by the IRS?

The majority of the payments will arrive by late January 2025, according to the tax agency, while the cheques will be mailed in December. Either a paper check or an automatic direct deposit into the recipient’s bank account will deliver the funds.