Exciting news for about a million Americans! The IRS is sending out $1400 stimulus checks this December to people who missed claiming their Recovery Rebate Credit during the pandemic. If you think you might qualify, here’s everything you need to know.
What Is This Stimulus Check About?
This payment is a refund for missed pandemic-era stimulus checks. The IRS reviewed records and found that many eligible people didn’t claim their Recovery Rebate Credit when filing their taxes. Now, the IRS is making things right by sending these checks automatically—no action is needed on your part!
Why Is It Happening Now?
The IRS aims to ensure everyone gets the money they’re entitled to. By catching errors or overlooked claims, they’re giving a financial boost to those who missed out.
When Will You Get the Money?
The checks are scheduled to roll out in December, so you might receive yours before the holidays or by early January 2025. Whether you’re planning to buy gifts or catch up on bills, this extra money can be a huge help.
Do You Qualify?
Here’s how to tell if you might qualify:
- You filed your 2021 taxes but didn’t claim the Recovery Rebate Credit or entered “0” by mistake.
- You didn’t file your 2021 taxes but can still do so by April 15, 2025, to claim the credit.
- If your bank account has changed, the IRS will mail a paper check to your address.
How Much Money Is Being Sent?
A whopping $2.4 billion is being distributed among one million people. IRS Commissioner Danny Werfel stated the goal is to make this process simple and stress-free for taxpayers.
What Should You Do?
- If you’ve already filed your 2021 taxes and qualify, there’s nothing more to do.
- If you haven’t filed, submit your 2021 tax return by April 2025 to potentially claim your payment.
- Be patient. The IRS will notify you by letter when your payment is on its way.
Conclusion
For many, this $1400 stimulus check could be the financial relief they’ve been waiting for. It’s automatic, hassle-free, and could bring a fresh start to the new year. Don’t miss out—if you’re eligible, the IRS will ensure the money gets to you.
FAQ’s
Who will receive the $1,400 stimulus checks?
People who filed their 2021 taxes but didn’t claim the Recovery Rebate Credit or entered incorrect information may qualify.
Do I need to apply for the payment?
No, the IRS is sending the payments automatically. You’ll either get a direct deposit or a paper check.
When will the payments arrive?
The checks are expected to be sent in December 2024, with delivery completed by January 2025.