Millions of Americans will soon receive an unexpected financial boost, as the IRS rolls out a new round of automatic stimulus payments. These checks, worth up to $1,400, are being sent to individuals who were eligible for previous stimulus payments but never received them.
The IRS has identified nearly one million taxpayers who either left the Recovery Rebate Credit field blank or incorrectly entered $0 on their 2021 tax returns. As a result, they missed out on the government’s Economic Impact Payments (EIPs), which were originally intended to provide financial relief during the pandemic. To correct this, the IRS is now distributing an estimated $2.4 billion in automatic payments.
Who Will Receive These Payments?
The new stimulus checks are targeted at those who filed their 2021 tax returns but failed to claim the Recovery Rebate Credit. If you’re eligible, you don’t need to take any action—payments will be sent automatically through direct deposit or as a paper check.
Most recipients can expect their money to arrive by the end of January 2025. If you’ve moved or changed bank accounts since filing your taxes, the IRS will attempt to reissue the payment to your most recent address on file.
Missed Out? Here’s How to Claim Your Money
If you haven’t filed your 2021 tax return yet, don’t worry—there’s still time to claim your stimulus payment. The IRS has set a deadline of April 15, 2025, for eligible individuals to file and request the Recovery Rebate Credit. Even if you had little to no income in 2021, filing a return could still qualify you for the payment.
For those who are unsure whether they received previous stimulus payments, checking your tax transcript on the IRS website can help confirm whether a credit was applied to your account.
What’s Next?
The IRS will send separate letters to notify taxpayers about their payments. If your bank account has been closed since filing your taxes, the payment will be returned to the IRS and reissued as a check sent to your mailing address.
This move by the IRS is part of a larger effort to ensure that all eligible Americans receive the financial aid they were promised during the pandemic. With billions of dollars being distributed, now is the time to check if you qualify and take action before the deadline.
If you believe you’re eligible, keep an eye on your bank account or mailbox—you might be getting a financial surprise soon!
