If you thought you missed out on your COVID-19 stimulus money, think again. The IRS is stepping in to make sure eligible taxpayers get what they’re owed.
The IRS recently announced that it’s distributing $2.4 billion in stimulus payments to around one million taxpayers. These payments are part of the third round of pandemic relief that provided up to $1,400 per person. If you didn’t claim the money on your 2021 tax return, you could be seeing a check or direct deposit soon.
What’s Going On?
During the height of the COVID-19 pandemic, the federal government issued three rounds of stimulus checks:
- First round (2020): $1,200 per adult and $500 per child.
- Second round (2020): $600 per person.
- Third round (2021): $1,400 per person and dependent.
Most people automatically received their payments. However, around a million people slipped through the cracks during the third round due to filing mistakes, income changes, or simply not knowing they were eligible.
Now, the IRS is fixing that by automatically issuing payments to those who missed out.
Am I Eligible for a Payment?
To qualify for this surprise cash boost, you must have:
- Filed a 2021 tax return.
- Not claimed the Recovery Rebate Credit on that return.
- Earned less than:
- $80,000 as a single filer.
- $120,000 as head of household.
- $160,000 as a married couple filing jointly.
Additionally, you must be a U.S. resident or citizen and not be claimed as a dependent on someone else’s tax return.
When Will I Get Paid?
The IRS started issuing payments in December 2024, with most expected to be delivered by early 2025. The payment method will depend on how you typically receive tax refunds. If you provided bank information, expect a direct deposit. Otherwise, you’ll get a paper check in the mail.
The good news? You don’t have to do anything. The IRS is taking care of the process automatically.
What If I Didn’t File a 2021 Tax Return?
If you didn’t file a 2021 tax return but believe you’re eligible, there’s still time to claim the money. You have until April 15, 2025, to file and claim the credit. Don’t wait—if you miss the deadline, you could lose out on the payment.
How to Check Your Payment Status
If you’re wondering whether you’ll receive the payment, here are a few steps you can take:
- Log into Your IRS Account: Check the status of your stimulus payments on the IRS website.
- Review IRS Notices: Look for notices like 1444-C or Letter 6475 that detail your stimulus payment history.
- Call the IRS: If you’re still unsure, contact them directly for clarification.
Why Is This Important?
Many people may not realize they’re leaving money on the table. This initiative is part of the IRS’s effort to ensure every eligible taxpayer receives their full pandemic relief. Whether it’s a financial cushion to cover bills or a chance to boost savings, $1,400 can make a big difference.
Final Tip: Don’t Miss Out
If you’ve been holding off or simply didn’t know you were entitled to this payment, now is the time to act. Review your tax documents, check your IRS account, and make sure you don’t let this financial opportunity pass you by.
