Millions of Taxpayers Eligible for $1,400 Stimulus Check—Find Out If You’re One of Them!
Millions of Americans could see an extra $1,400 land in their bank accounts this month as the IRS starts issuing stimulus payments to eligible taxpayers. These payments, linked to the 2021 Recovery Rebate Credit (RRC), are aimed at individuals who missed out on claiming their credit during the pandemic relief efforts.
The IRS has confirmed that around one million taxpayers will benefit from this initiative, which is designed to ensure that eligible individuals receive the financial support they were entitled to during the pandemic.
What Is the Recovery Rebate Credit?
The Recovery Rebate Credit was introduced as part of the federal government’s COVID-19 relief efforts. It allowed individuals to claim any missing stimulus payments (also known as Economic Impact Payments) on their 2021 tax returns. However, many people either left the RRC section blank or mistakenly entered $0, missing out on money they were eligible to receive.
Who Qualifies for This $1,400 Payment?
The eligibility criteria for this stimulus payment are simple:
- Filed a 2021 Tax Return: You must have submitted a tax return for 2021 but failed to claim the RRC.
- Income Limits: Your adjusted gross income (AGI) in 2021 must be below:
- $80,000 for single filers
- $120,000 for heads of household
- $160,000 for married couples filing jointly
- Residency: Only U.S. residents qualify, and nonresident aliens are excluded.
- Not a Dependent: You cannot have been claimed as someone else’s dependent in 2021.
If you meet these requirements, you could receive up to $1,400 per person, including additional payments for dependents.
How Will You Receive the Payment?
The IRS has assured taxpayers that no action is required to claim this payment. If you’re eligible, the IRS will automatically issue the money either through direct deposit or by mailing a paper check to your address on file.
Most payments are expected to be delivered by the end of January 2025. Additionally, the IRS plans to send a confirmation letter to notify taxpayers of the payment.
What If You Didn’t File a 2021 Tax Return?
If you didn’t file a tax return for 2021, you still have time to claim the Recovery Rebate Credit. The deadline to file and receive this credit is April 15, 2025. Even if you had little or no income during 2021, you can still submit a return to claim the money.
What Should You Do Next?
If you think you qualify, the best thing to do is wait for the IRS to process the payment automatically. In the meantime, double-check your 2021 tax return to confirm whether you claimed the RRC. If the section was left blank, this payment could be headed your way.
For those who didn’t file at all in 2021, consider submitting your tax return as soon as possible to ensure you don’t miss out on this opportunity.
This surprise stimulus check is part of the government’s efforts to ensure that no eligible taxpayer misses out on critical financial support. Whether you’re waiting for the IRS to send the money or still need to file your taxes, this could be a chance to catch up on relief funds from the pandemic. Keep an eye on your mailbox or bank account for that extra $1,400.
