The IRS is surprising more than a million Americans with unexpected stimulus payments of up to $1,400. These checks are being sent to individuals who missed out on their full payment during the pandemic, specifically through the 2021 Recovery Rebate Credit. If you didn’t claim this credit, this could be your lucky break.
Why Are These Payments Happening Now?
The U.S. government issued three rounds of Economic Impact Payments (EIPs) to help Americans during the COVID-19 crisis. However, the IRS recently discovered that many eligible people didn’t receive their full benefits. Some didn’t know they were eligible, while others made errors on their tax returns.
Instead of requiring people to fix these errors by filing amended returns, the IRS is automatically issuing payments to make sure no one misses out on the relief they deserve.
Who Will Get the Money?
The $1,400 checks are targeted at individuals who filed their 2021 tax returns but didn’t claim or properly fill out the section for the Recovery Rebate Credit. This could be because they were unaware they were entitled to the payment or made a simple mistake.
The maximum payout is $1,400 per person, and eligible families could get more if they have qualifying dependents. For example, a family of four could receive as much as $5,600.
How Will You Receive the Money?
The IRS has already begun sending the payments through direct deposit or by paper check. Most recipients can expect to see the money by the end of January. No action is required—you won’t need to file any additional forms or paperwork.
What Should You Do Next?
If you’re eligible, keep an eye on your bank account and mailbox. The IRS is also sending out letters to notify people that the payment is on its way. If you believe you should have received a check but haven’t, you can visit the IRS website to check your status.
This unexpected move by the IRS highlights their effort to fix any payment errors and ensure that eligible taxpayers don’t miss out on financial support. So, if you’ve been struggling with missed stimulus payments, this could be the relief you’ve been waiting for.
Stay informed and check your mail—you may be one of the lucky recipients of this surprise cash infusion.
