Breaking News: IRS Distributes $1,400 Stimulus Payments to Over One Million Americans

In a recent effort to provide financial relief, the Internal Revenue Service (IRS) has begun distributing $1,400 stimulus payments to over one million Americans who may have missed out on previous COVID-19 relief funds. These payments are part of the Recovery Rebate Credit initiative, aiming to ensure that eligible individuals receive the financial support they are entitled to.

Who is Eligible?

The IRS has identified taxpayers who filed a 2021 tax return but did not claim the Recovery Rebate Credit, potentially leaving money on the table. To be eligible for the full $1,400 payment, individuals must have had an adjusted gross income (AGI) below $80,000, and married couples filing jointly must have an AGI below $160,000. Payments are being issued automatically, with no action required from eligible taxpayers.

How Are Payments Being Distributed?

The IRS began issuing these payments in December 2024, with most funds expected to arrive by late January 2025. Payments are being sent via direct deposit or paper check to the addresses listed on taxpayers’ 2023 tax returns. If a direct deposit cannot be processed, the payment will be mailed to the taxpayer’s address on file.

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

If you haven’t filed your 2021 tax return, you still have the opportunity to claim the Recovery Rebate Credit. The deadline to file is April 15, 2025. Filing your return by this date will allow the IRS to process your claim and issue any eligible payments.

Be Aware of Scams

Be cautious of unsolicited communications claiming to offer stimulus payments. Scammers may attempt to steal personal information by posing as the IRS. Remember, the IRS will not contact you via text messages or emails asking for personal information.

Key Takeaways:

• The IRS is distributing $1,400 payments to over one million Americans who missed the Recovery Rebate Credit in 2021.
• Eligible individuals should have an AGI below $80,000; married couples filing jointly below $160,000.
• Payments are automatic; no action needed if you’re eligible.
• If you haven’t filed your 2021 tax return, do so by April 15, 2025, to claim your credit.
• Be vigilant against scams asking for personal information under the guise of offering stimulus payments.