The Internal Revenue Service (IRS) is rolling out another round of stimulus payments, targeting about one million Americans who missed out on the earlier Economic Impact Payments (EIP) during the COVID-19 pandemic. These payments, worth up to $1,400 each, are being issued automatically to eligible individuals who unknowingly left money on the table.
Why Is the IRS Sending New Stimulus Payments?
Many Americans were unaware of their eligibility for the stimulus checks or failed to claim them due to errors in their tax filings for 2021. The IRS identified these taxpayers through internal data analysis, showing that a substantial number of individuals left the “Recovery Rebate Credit” field blank or entered $0 when filing.
Who Is Eligible for These Payments?
The IRS confirmed that qualified taxpayers include those who:
- Filed a 2021 tax return but didn’t claim the Recovery Rebate Credit despite being eligible.
- Missed out on the stimulus due to filing errors or incomplete tax returns.
These automatic payments aim to resolve the issue without requiring taxpayers to go through the complicated process of amending their returns.
When Will the Payments Arrive?
According to the IRS, the payments were initiated in late December 2024 and are expected to reach eligible individuals by the end of January 2025. Recipients will either receive the payments through direct deposit or as a paper check, depending on the bank or mailing information on file with the IRS.
What the Experts Are Saying?
Danny Werfel, IRS Commissioner, stated, “The IRS continues to work hard to assist taxpayers. These payments reflect our commitment to ensure everyone receives what they are entitled to. By automating the process, we’ve minimized additional paperwork for taxpayers.”
Financial experts have also weighed in. Alex Beene, a financial literacy instructor, noted, “While these payments may feel overdue, they provide essential relief for many who’ve been struggling with post-pandemic financial challenges.”
Kevin Thompson, CEO of 9i Capital Group, added, “For many, this unexpected financial boost could not have come at a better time. However, with potential changes in leadership, such programs may face increased scrutiny moving forward.”
How to Check Your Eligibility?
If you think you’re eligible but haven’t received your payment, you can check your status by:
- Logging into your IRS online account.
- Verifying your 2021 tax return to see if the Recovery Rebate Credit was unclaimed.
- Contacting the IRS helpline for additional assistance.
Next Steps for Taxpayers
The IRS encourages all taxpayers to review their past filings carefully to avoid missing out on benefits in the future. Ensuring accurate and complete tax returns can help prevent similar issues going forward.
For those still waiting, patience is key, as the payments are expected to be fully disbursed within the stated timeline.
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
Premlata is a seasoned finance writer with a keen eye for unraveling complex global financial systems. From government benefits to energy rebates and recruitment trends, she empowers readers with actionable insights and clarity. When she’s not crafting impactful articles, you can find her sharing her expertise on LinkedIn or connecting via email at biswaspremlata@gmail.com.
