The IRS announced on Friday that it will send out $2.4 billion in “special payments” to about 1 million people. These payments are for Americans who didn’t get all their federal stimulus checks during the pandemic.
Each person can get up to $1,400, depending on what they’re owed, the IRS said.
“To make things easier, these payments will be automatic,” said IRS Commissioner Danny Werfel. “This way, eligible people won’t need to go through the hassle of filing additional paperwork to get their money.”
Who Will Get the Payments?
The IRS is sending these payments after reviewing its records and finding people who filed tax returns but didn’t claim the “recovery rebate credit” in 2021.
This credit was created for people who missed out on all or part of the stimulus checks sent during the pandemic. Congress approved three rounds of stimulus payments: two in 2020 and one in 2021.
Most people who qualified for the payments already got them, either directly or by claiming the recovery rebate credit on their tax returns.
Do You Need to Apply?
No, you don’t need to do anything. The IRS will automatically send the payments to about 1 million people who qualify but didn’t claim the credit. If you’re eligible, you’ll get a letter from the IRS letting you know.
When Will the Payments Arrive?
The IRS said the payments will start going out in December. Most people will receive their money by the end of January 2025.
The money will be deposited directly into bank accounts or sent as paper checks in the mail.