IRS sending stimulus checks: What is it for, who quifies for $1,400 payment?

Category: Finance

Approximately 1 million taxpayers are set to receive automatic stimulus payments from the IRS, which are funds they failed to claim from their 2021 tax returns. This Recovery Rebate Credit is for those who did not receive one or more Economic Impact Payments during the COVID-19 pandemic. Eligible taxpayers will receive payments via direct deposit or paper check without needing to file an amended return. The maximum payment is $1,400 per individual, totaling $2.4 billion in distributions. Taxpayers who haven't filed their 2021 returns may still be eligible but must do so by April 15.

Keywords: stimulus payments, IRS, Recovery Rebate Credit

Source: al.com

Update At: 1/14/2025

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