The Internal Revenue Service (IRS) is making efforts to ensure that eligible Americans who missed out on federal stimulus checks during the COVID-19 pandemic receive their payments. On Friday, the IRS announced it would distribute $2.4 billion in “special payments” to about 1 million individuals. Each payment will vary in amount, with a maximum of $1,400 per person.
This initiative is part of the government’s ongoing efforts to close the gap for people who did not receive their full stimulus benefits. Here’s a closer look at who qualifies, how the payments will be sent, and what to expect.
Who Qualifies for the IRS Special Payment?
The IRS identified this group of recipients after reviewing its internal data. These are taxpayers who filed their returns but didn’t claim the “recovery rebate credit” in 2021.
The recovery rebate credit was introduced to help people who missed out on one or more of the three federal stimulus checks issued during the pandemic. Congress authorized three rounds of stimulus payments, with the first two distributed in 2020 and the third in 2021.
While most eligible individuals received their payments either directly or later through this credit, about 1 million people were left out due to various reasons, such as incomplete claims or unprocessed rebate credits.
What Do You Need to Do to Get This Payment?
The good news is that you don’t need to take any action to receive these funds. The IRS has assured recipients that the process will be automatic. According to IRS Commissioner Danny Werfel, this streamlined approach eliminates the need for eligible taxpayers to go through the complicated process of filing an amended tax return.
Once identified, the IRS will notify recipients through an official letter. This letter will confirm eligibility and provide details about when and how the payment will be issued.
How and When Will Payments Be Sent?
The IRS has scheduled these payments to be sent starting in December, with most recipients receiving them by late January 2025. Depending on the individual, the funds will either be:
- Directly deposited into the recipient’s bank account.
- Sent via mail in the form of a paper check.
This dual-distribution method ensures that the payments reach eligible individuals in the most convenient way possible.
Why Are These Payments Important?
The stimulus checks provided during the pandemic were critical lifelines for millions of Americans, helping to cover essential expenses during economic uncertainty. However, gaps in the system left some people without these much-needed funds.
This latest effort by the IRS highlights the agency’s commitment to ensuring that all eligible taxpayers receive their due financial assistance, even years after the original payments were distributed.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.