The IRS in December sent a total of $2.4 billion in “special payments” to roughly 1 million Americans, part of an effort to ensure that people who didn’t receive all of their federal stimulus checks during the pandemic would finally get the money. Most eligible taxpayers have already received their Recovery Rebate Credit, as the payment is called, but for those who haven’t there is still time to submit a claim.
But time is running out, as the deadline to file a claim is April 15. Here’s what to know.
What to know about the $1,400 IRS stimulus checks
The Recovery Rebate Credit was designed for people who didn’t get all or some of the stimulus checks when they were issued during the pandemic. Lawmakers authorized three stimulus payments, with two sent in 2020 and a third in 2021.
The checks are a holdover from the three stimulus payments that were sent during the pandemic, as some people may not have received some of the money, even if they were eligible. The tax agency disbursed the funds after reviewing internal data that showed many people had filed tax returns but yet didn’t claim what is known as the “recovery rebate credit” in 2021. However, non-filers, or those who have not filed
Payment amounts will vary by person, with a maximum amount of $1,400 per recipient, the agency said in a statement.
Who will get a payment from the IRS?
Most taxpayers who were eligible for the stimulus payments have already received them directly, or later through the recovery rebate credit, the IRS said. However, the encourages non-filers to claim credits before the approaching April 15 deadline, as they may be eligible for the the up to $1,400 payment.
Who is not eligible for a payment from the IRS?
The eligibility requirements to file a claim to the 2021 Recovery Rebate Credit are as follows:
- You are a legal U.S. resident.
- Either you or someone you claim as a dependent has a valid Social Security Number or Adoption Taxpayer Identification Number issued by the IRS.
- You cannot be claimed as a dependent on another taxpayer’s 2021 tax return.
See here for more information on eligibility.
Do you need to apply for the IRS payment?
For those who have not yet received a payment, the answer is yes. While most eligible taxpayers have already received the funds through automatic payments, eligible non-filers will have to file a claim in order to get their payment.
In order to claim the 2021 Recovery Rebate Credit, taxpayers must file a 2021 tax return by the April 15, 2025, deadline, “even if their income from a job, business or other source was minimal or non-existent,” according to the IRS’ website.
Detailed information on how to file a claim for the 2021 credit can be found here.
When will the IRS send the payments?
The tax agency said the checks will be sent in December, with most of the payments arriving by late January 2025.
The money will either be automatically direct deposited to the recipient’s bank account or will arrive in the mail via a paper check.