×

IRS Alert: Are You One of the 1 Million Getting $600 Direct Deposit This Month?

The IRS is stepping up to provide financial relief to over one million taxpayers who missed out on critical pandemic-related stimulus payments. This January, eligible individuals will automatically receive payments of up to $1,400 through direct deposit or paper checks. Here’s everything you need to know about eligibility, payment details, and how to claim the money if you qualify.

What Are These Payments For?

The payments are part of the Recovery Rebate Credit program, which helps those who didn’t receive their full Economic Impact Payments (stimulus checks) during 2020 and 2021. Many taxpayers unintentionally left the Recovery Rebate Credit field blank or entered incorrect information on their 2021 tax returns, leaving money on the table.

To fix this, the IRS is proactively issuing these payments no amended returns or additional paperwork required.

Who Qualifies?

You may be eligible if:

  • You filed a 2021 tax return.
  • You did not claim the Recovery Rebate Credit on that return.
  • You were eligible for the credit but didn’t receive it.

The maximum payment is $1,400 per eligible individual, including dependents. For a family of four, this could mean a total payment of $5,600.

How Will the Payments Be Sent?

Payments will be sent automatically to the bank account or address on file with the IRS. If you receive direct deposit, the money will hit your account by the end of January. For others, paper checks will be mailed. You’ll also receive a notification letter confirming the payment.

What About Non-Filers?

If you haven’t filed your 2021 tax return, there’s still time to claim the Recovery Rebate Credit. File your return before April 15, 2025, to ensure you receive any missed payments. Even if you had little or no income, filing could unlock stimulus money you’re entitled to.

Why This Matters

This initiative highlights the IRS’s effort to ensure eligible taxpayers don’t miss out on critical funds. With inflation and economic uncertainty still looming, this relief could be a welcome boost for families across the country.

Leave a Reply

Your email address will not be published. Required fields are marked *