$1,400 Stimulus Payment— In a surprising update that could boost millions of wallets, the IRS has announced it will send out $1,400 stimulus payments to eligible Americans in early 2025. These payments, part of a recovery program for those who missed out on previous COVID-era stimulus checks, will automatically hit bank accounts or arrive by mail. Read on to see if you qualify and when to expect your money!
What’s Behind the $1,400 Payments?
The payments are part of the IRS’s initiative to distribute funds owed under the Recovery Rebate Credit, tied to the 2021 American Rescue Plan Act. The IRS found that nearly one million taxpayers failed to claim the credit on their 2021 tax returns, despite being eligible for the third round of COVID relief.
Who Can Expect a Check?
To qualify for this payment:
- You must have missed the 2021 Recovery Rebate Credit: If you left it blank or incorrectly marked $0 on your return, the IRS will automatically issue the payment.
- Income limits apply: Full payments go to single filers earning $75,000 or less and married couples earning up to $150,000. Above these limits, the payment phases out.
- Non-filers may still qualify: Even if you didn’t file a return in 2021, you can submit a late return by April 15, 2025, to claim the funds.
When Will Payments Be Sent?
Payments began rolling out in December 2024, with most recipients expected to receive their money by the end of January 2025. The IRS will use the latest information from your tax records to determine eligibility and payment delivery.
How to Claim If You Miss Out
If you haven’t received your check by February 2025 and believe you qualify, check your 2021 tax return for errors. You can file an amended or late return to ensure you get the payment.
The Bigger Picture
These payments are a continuation of the government’s efforts to assist Americans impacted by the COVID-19 pandemic. The IRS previously distributed three rounds of stimulus checks, including:
- $1,200 in March 2020 under the CARES Act.
- $600 in December 2020 under the Consolidated Appropriations Act.
- $1,400 in March 2021 under the American Rescue Plan.
This new initiative ensures those who missed the final round of payments in 2021 still receive their share.
What to Do Now?
Keep an eye on your mailbox or bank account for the payment. If you’re unsure about eligibility, visit the IRS website or consult a tax professional. With a simple filing step, you could secure this $1,400 windfall and put it toward your financial goals.
