This holiday season, around one million lucky taxpayers will get a nice surprise – a little extra cash from the IRS! The agency is kicking off the distribution of approximately $2.4 billion in unclaimed federal stimulus checks, and you could be one of the beneficiaries.
Here’s the deal: The IRS is starting to send out automatic payments to people who didn’t claim the Recovery Rebate Credit on their 2021 tax returns. This credit was part of the government’s COVID-19 relief efforts, and it helps you claim any stimulus payments you missed out on.
The good news? If you’re eligible, you don’t need to do a thing. The IRS will automatically send out checks to those who qualify, and the payments will start going out later this month. Depending on your situation, the check could be up to $1,400 per person! The money will be sent to the bank account listed on your 2023 tax return or to the address the IRS has on file for you. Expect to see your payment by the end of January.
Most of the people who qualify for this credit have already received their payments. But if you filed your 2021 tax return and accidentally left the Recovery Rebate Credit section blank (or filled it out as $0), the IRS is now stepping in to send you the money you’re owed.
If you haven’t filed your 2021 return yet, don’t worry – you might still be eligible. Just make sure you file your taxes by April 15, 2025, to claim this credit and any other refunds you might be due.
So, keep an eye out for that check – it might just show up when you least expect it!
