By the end of this month, taxpayers may receive a stimulus check up to $1,400, dependent on how they filed their 2021 tax returns.
The Internal Revenue Service announced in December that it would be distributing about $2.4 billion − up to $1,400 per individual − worth of stimulus checks to U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.
According to the IRS, this round of stimulus checks was established after the agency reviewed internal data showing that many eligible taxpayers who filed a 2021 tax return did not claim the Recovery Rebate Credit, a refundable credit for individual who didn’t receive one or more Economic Impact Payments, more commonly known as stimulus payments.
Here’s what to know about the IRS’ latest round of stimulus checks and who is eligible to receive them.
More money news:Cash App’s parent company ordered to pay $175M for weak security procedures, feds say
Need a break? Play the USA TODAY Daily Crossword Puzzle.
Who is eligible for the latest IRS stimulus check?
Taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns are eligible for the latest stimulus check.
Taxpayers can check if they claimed this credit by looking at their 2021 tax return and checking if they left the Recovery Rebate Credit field blank or filled it out as $0.
How do taxpayers claim the latest IRS stimulus check?
Taxpayers do not need to take action to receive the latest stimulus check. The IRS began automatically sending out payments in December, and they will continue through late January.
Eligible taxpayers will receive a letter notifying them of the payment, and the payments will either be automatically direct deposited or sent by paper check.
How much money will taxpayers receive?
An eligible taxpayer may receive up to $1,400, according to the IRS.
What if a taxpayer didn’t file a 2021 tax return?
Taxpayers who did not file a 2021 tax return may still be eligible for the stimulus check if they file their return and claim the Recovery Rebate Credit by April 15, according to the IRS.
Greta Cross is a national trending reporter at USA TODAY. Follow her on X and Instagram @gretalcross. Story idea? Email her at gcross@usatoday.com.
As the IRS continues to distribute much-needed financial relief to millions of Americans, it has been announced that $1,400 stimulus checks will be sent out through late January 2025. This extended timeline ensures that individuals who may have been missed or experienced delays in receiving their payment will have the opportunity to claim their funds.
The distribution of these stimulus checks comes as part of ongoing efforts to provide economic assistance to those impacted by the COVID-19 pandemic and its economic fallout. Eligible recipients include individuals who meet the income criteria outlined by the IRS and have filed their taxes in a timely manner.
If you have not yet received your $1,400 stimulus check, be sure to keep an eye on your mailbox or bank account in the coming weeks and months. Additionally, you can visit the IRS website for updates and information on how to track your payment.
This continued distribution of stimulus checks serves as a reminder that help is still available for those in need during these challenging times. Stay informed and be on the lookout for your payment to ensure you receive the financial support you deserve.
Tags:
- IRS stimulus checks
- $1,400 stimulus payments
- Late January 2025 distribution
- Economic impact payments
- IRS distribution updates
- Stimulus check news
- COVID-19 relief funds
- IRS payment schedule
- Federal stimulus package
- Financial assistance updates
#IRS #distributes #stimulus #checks #late #January
