In a major boost for Americans this January, the IRS has begun distributing stimulus payments worth $600 and $750 to qualified individuals. These payments are part of a new effort to provide financial relief for those who missed out on the original Economic Impact Payments in 2021. If you didn’t receive the full amount back then, this could be your chance to claim the funds.
Here’s what you need to know about eligibility, payment details, and key deadlines.
Who Qualifies for the January 2025 Stimulus Checks?
These payments are being automatically issued to taxpayers who filed a 2021 tax return but did not claim the Recovery Rebate Credit, even though they were eligible for it. The Recovery Rebate Credit was designed to help individuals who didn’t receive their full stimulus amount during the pandemic.
To qualify, you must have:
- Filed a 2021 tax return.
- Either left the Recovery Rebate Credit section blank or entered $0, despite meeting eligibility criteria.
- Met income and filing status requirements for 2021.
If you meet these conditions, the IRS will automatically send you the payment—you don’t need to apply or amend your previous tax return.
When Will You Receive the Stimulus Payment?
The IRS started distributing payments in December 2024, with most recipients expected to see the funds by late January 2025.
Here’s how the payments will be delivered:
- Direct Deposit: If you provided bank details on your 2021 or 2023 tax returns, the payment will be deposited directly into your account.
- Paper Check: If no bank information is available, a check will be mailed to your address on file.
Additionally, the IRS will send a confirmation letter explaining the payment details.
Still Haven’t Filed Your 2021 Tax Return? There’s Still Time
If you didn’t file your 2021 tax return but believe you’re eligible for the Recovery Rebate Credit, it’s not too late. The IRS is allowing taxpayers to file their 2021 returns until April 15, 2025, to claim any missed stimulus payments or refunds.
Even if you had minimal or no income in 2021, filing a return could help you qualify for financial assistance. Low-income individuals and those who don’t typically file are encouraged to submit their returns to avoid missing out.
What to Do Next
If you believe you’re eligible for these payments, check your bank account or mailbox over the coming weeks. You don’t need to take any action if you filed a 2021 return and qualified for the Recovery Rebate Credit.
For additional guidance or questions about eligibility, visit the IRS website or consult a tax professional to make sure you’re not leaving any money on the table.
With millions of dollars in unclaimed stimulus payments being distributed, this could be your last chance to receive financial relief!
