Find Out If YOU Qualify for the ‘Exclusive’ $1400 Stimulus Payment – 1 Million Americans Are About to Get It

The Internal Revenue Service (IRS) is preparing to send $1,400 stimulus checks to approximately one million taxpayers in the coming weeks. This effort aims to provide financial relief to individuals who failed to claim the Recovery Rebate Credit on their 2021 tax returns. In total, the IRS is set to distribute around $2.4 billion through these payments, which will be sent via direct deposit or paper checks.

Eligibility for the $1,400 Stimulus Checks

The stimulus payments, part of the Economic Impact Payments program, are targeted at taxpayers who either left the Recovery Rebate Credit field blank or reported $0 on their 2021 tax returns when they were eligible for the credit.

IRS Commissioner Danny Werfel noted, “Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were eligible.” Most taxpayers who were eligible for these federal stimulus payments have already received them. However, this special initiative ensures those who missed out initially are given another opportunity.

The maximum amount available through these payments is $1,400 per individual. The IRS will automatically calculate and distribute these payments without requiring any action from taxpayers.

How and When Payments Will Be Sent

The IRS has streamlined the process to ensure payments are received seamlessly. Eligible individuals can expect their checks to arrive via direct deposit or mailed paper checks by late January 2025. Payments will be deposited into the bank accounts listed on the taxpayers’ 2023 tax returns or mailed to the address on file. To ensure transparency, the IRS will send separate notification letters to taxpayers eligible for these payments. Additionally, detailed information about eligibility and payment calculations has been posted on the IRS website.

What If You Haven’t Filed Your 2021 Tax Return?

Taxpayers who have not yet filed their 2021 tax returns still have a chance to claim the Recovery Rebate Credit. The IRS urges individuals to file their returns by the April 15, 2025 deadline to ensure they receive their payments. This applies even if taxpayers had little to no income during that period.

Previous Rounds of COVID Stimulus Payments

The $1,400 payments are part of a larger federal effort to provide financial assistance during the COVID-19 pandemic. Over three rounds of stimulus payments, the IRS distributed $814 billion to households.

• March 2020: Under the CARES Act, individuals received up to $1,200 per filer and $500 per child.
• December 2020: The Consolidated Appropriations Act provided up to $600 per filer and $600 per child.
• March 2021: The American Rescue Plan Act issued $1,400 per filer and $1,400 per child.

This latest initiative underscores the IRS’s commitment to ensuring all eligible taxpayers receive the relief they deserve. Taxpayers are encouraged to review their eligibility and take the necessary steps to secure their payments.