The IRS is back with good news for more than one million Americans. This February, the agency is distributing $1,400 stimulus payments to taxpayers who missed out on claiming the Recovery Rebate Credit (RRC) when filing their 2021 tax returns. If you didn’t get the full stimulus during the pandemic, you could be getting a nice boost soon.
Why Is the IRS Sending These Payments Now?
During the pandemic, the government issued three rounds of stimulus payments, also known as Economic Impact Payments (EIPs). These were meant to help people cover expenses during the financial chaos caused by COVID-19. However, many eligible taxpayers either didn’t receive the full amount or didn’t know they had to claim the Recovery Rebate Credit on their 2021 tax return to get the money.
To fix this, the IRS is now sending out payments automatically. You don’t need to apply or fill out any forms.
Who Is Eligible for This $1,400 Payment?
The IRS is targeting taxpayers who:
- Filed their 2021 tax returns but didn’t claim the RRC or left the section blank.
- Were eligible for a stimulus check based on their 2021 tax details but missed out.
Most people who already received their stimulus checks won’t be getting another payment. These payments are for those who were left out or accidentally skipped over.
If you’re eligible, you should receive your money through direct deposit or a mailed debit card by the end of February. Look out for a letter from the IRS confirming your payment.
What If I Didn’t File My 2021 Tax Return?
Don’t worry—you still have time. The IRS has extended the deadline for late filers to claim the RRC until April 15, 2025. If you didn’t file your 2021 return, you can still submit it and claim the credit to get your payment.
This is especially important for low-income individuals or those who didn’t think they needed to file a tax return at the time. By filing now, you could get the financial help you missed out on.
How to Avoid Scams
Any time money is involved, scammers try to take advantage. The IRS will never call, email, or text you about payments. Official communication will come by mail. Be wary of anyone asking for personal or banking details over the phone. If you’re unsure, visit the official IRS website or contact them directly.
What to Do If You Don’t Receive a Payment
If you believe you’re eligible but haven’t received your payment by the end of February, don’t panic. You can check your payment status through the IRS’s official website. It’s also a good idea to speak with a tax advisor if you have any doubts.
This $1,400 payment is a great opportunity for those who missed out on much-needed financial support during the pandemic. Make sure to stay informed, file your taxes if you haven’t, and double-check any IRS notices in the mail. You could have a nice surprise waiting for you this month!
