Did you miss out on receiving the Recovery Rebate Credit in 2021?
The IRS just announced its plans to issue the payments starting later this month to 1 million taxpayers who didn’t claim it while filing for their 2021 tax returns.
“The IRS announced the special step after reviewing internal data showing many eligible taxpayers who filed a return but did not claim the credit,” the agency said in a press release.
While most eligible taxpayers received their stimulus checks or credit, those who haven’t can expect to receive their 2021 Recovery Rebate Credit in late January if they didn’t receive a stimulus check before.
Here’s what to know.
Personal finance: This flaw in Social Security benefit calculation will cost retirees $120 on average in 2025
Taxpayers can expect to receive a maximum of $1,400, according to the IRS. A total of $2.4 billion will be sent to those who missed receiving the credit.
People do not have to do anything to receive their payments, as they will automatically be sent out to taxpayers in December and will arrive in most cases by late January.
Eligible taxpayers will receive a separate letter notifying them of the payment.
Payments will be automatically direct deposited or sent by a paper check, according to the IRS.
The payment will be direct deposited into the bank account provided on the eligible person’s 2023 tax return or sent to the address of record.
People who didn’t file their taxes in 2021 can still be eligible to receive their stimulus checks, the IRS stated.
But, they only have until April 15, 2025 to “file their returns to claim the credit and any other refund they might be owed.”
People who placed a $0 on the field for the Recovery Rebate Credit on their 2021 tax forms or left the section blank are eligible for the credit.
According to the IRS, those receiving the payment are “taxpayers where IRS data demonstrates a taxpayer qualifies for the credit.”
Julia is a trending reporter for USA TODAY. You can connect with her on LinkedIn, follow her on X, formerly known as Twitter, Instagram and TikTok: @juliamariegz, or email her at jgomez@gannett.com
This article originally appeared on USA TODAY: IRS sending missed stimulus checks to 1 million taxpayers
