How can you claim the IRS $1400 stimulus check in 2024? Check out more Updates

The Internal Revenue Service (IRS) intends to provide automated reimbursements of up to $1,400 in late December to about one million eligible taxpayers who failed to claim the Recovery Rebate Credit on their 2021 tax returns.

The IRS announced this extraordinary approach after evaluating internal data that revealed that many eligible taxpayers submitted returns but did not claim the credit. The Recovery Rebate Credit is a refundable credit available to those who did not receive one or more Economic Impact Payments (EIPs), often known as stimulus payments. The IRS clarified that nearly all eligible taxpayers have already received federal stimulus payments, but some still do not, and it was discovered that they filed a 2021 tax return but left the Recovery Rebate Credit data field blank or filled it in as $0 when they were eligible for the credit.

Who qualifies for the $1,400 IRS refund?

The good news for taxpayers entitled to this refund is that they do not need to act because the funds will be made automatically in late December via direct deposit into the bank account mentioned on the taxpayer’s 2023 return. These December 2021 Recovery Rebate Credit payments will only go to taxpayers whose IRS data indicates that they are eligible for the credit. In addition, the IRS will send letters to each eligible taxpayer, and the eligibility requirements and how to determine the maximum amount of $1,400 are available online.