The IRS is sending out a big chunk of change – $2.4 billion – to about a million Americans who missed out on coronavirus stimulus money.
Who’s Getting the Money?
This money is for people who were eligible for the Recovery Rebate Credit on their 2021 taxes but didn’t claim it. Some will get up to $1,400. The IRS says this happened because people either left the relevant section blank or put $0, even though they qualified.
How Will People Get Paid?
No action is needed from those eligible. The IRS will automatically send the money via direct deposit or check by late January 2025. You’ll also get a letter letting you know about the payment.
What if I Haven’t Filed My 2021 Taxes?
Don’t worry! If you haven’t filed your 2021 taxes yet, you can still get your share. Just file by April 15th, 2025.
IRS Commissioner’s Statement
IRS Commissioner Danny Werfel explained that the IRS is making this automatic to avoid extra paperwork for eligible taxpayers. They found that a million people were eligible but didn’t claim the credit.
