Did you not receive the Recovery Discount Credit in 2021?
The IRS just announced its plans to issue the payments later this month to 1 million taxpayers who did not claim them when filing their 2021 tax returns.
“The IRS announced this special step after reviewing internal data showing that many eligible taxpayers filed returns but did not claim the credit,” the agency said in a news release.
While most eligible taxpayers have received their stimulus checks or credit, those who have not can expect to receive their 2021 Recovery Rebate Credit by the end of January if they have not previously received a stimulus check.
Here’s what you need to know.
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Taxpayers can receive up to $1,400, according to the IRS. A total of $2.4 billion will be transferred to those who did not receive the credit.
People don’t need to do anything to receive their payments, as they are automatically sent to taxpayers in December and in most cases arrive by the end of January.
Eligible taxpayers will receive a separate letter notifying them of the payment.
According to the IRS, payments are automatically deposited directly or sent via paper check.
The payment will be deposited directly into the bank account declared on the eligible individual’s 2023 tax return or shipped to the registered address.
People who haven’t filed their 2021 tax returns may still qualify for their stimulus checks, the IRS said.
But they only have until April 15, 2025 to “file their returns to claim the credit and any other refunds they may be owed.”
People who placed $0 in the Recovery Rebate Credit field on their 2021 tax form or left the section blank are eligible for the credit.
According to the IRS, those receiving the payment are “taxpayers for whom IRS records show a taxpayer is eligible for the credit.”
Julia is a trending reporter for USA TODAY. You can contact her at LinkedInfollow her further X, formerly known as Twitter, Instagram And TikTok: @juliamariegz, or email her at jgomez@gannett.com
This article originally appeared on USA TODAY: IRS sends missed stimulus checks to 1 million taxpayers
