Millions to Receive $1,400 IRS Stimulus Refunds Automatically

This automatic refund is meant to fix mistakes linked to the economic stimulus payments given during the COVID-19 pandemic. The Recovery Rebate Credit was created to help people who either didn’t get their Economic Impact Payments (stimulus checks) or got less than they should have.

The IRS found out that almost one million people didn’t claim this credit when they filed their 2021 tax returns, which is why they are getting automatic refunds. The IRS said they will automatically send out funds in December 2024, and people can expect to receive them by the end of January.

Eligible taxpayers don’t need to do anything to get these funds. Do you want to know if you can get the new tax rebate? Here’s a simple guide to help you understand the requirements and check if you qualify.

Requirements for Taxpayers

Taxpayers who satisfy these requirements will be deemed eligible:

• You have submitted your tax return for 2021.
• Did not claim the Recovery Rebate Credit on their return.
• Follow the basic rules from the American Rescue Plan Act.

Most qualified taxpayers have already gotten their stimulus payments. This return is intended for a select few people.

How to Check if You’re Eligible

Want to know if you meet the requirements? Just follow these simple steps:

• Check your 2021 tax return for the part about the Recovery Rebate Credit. If you left it empty or put in $0, you may qualify.
• Log into your IRS Account: Log into your online account to see your tax records and check if you claimed the credit.

If you have questions, contact the IRS for help.

The IRS will send out the stimulus checks instantly, so taxpayers don’t have to do anything extra.

Key Dates and Ways to Get Paid

All payments will be made by the end of January 2025. Payments will be made either through direct deposits to bank accounts or by sending real checks in the mail. Taxpayers will get a formal letter from the IRS confirming their payment.

You can get up to $1,400 for each person, depending on your income and qualifications. The IRS plans to distribute $2.4 billion through this refund scheme. Don’t worry if you didn’t file your 2021 taxes; you can still get this benefit. You can apply for the Recovery Rebate Credit from the IRS until April 15, 2025. This is true even if you earned no money or just a little money that year.