December 24, 2024
The Internal Revenue Service (IRS) has announced it will distribute unclaimed stimulus checks worth up to $1,400 to over one million eligible taxpayers starting next month. These payments, tied to the pandemic-era Recovery Rebate Credit, aim to assist individuals who missed out on earlier stimulus payments.
Who Is Eligible?
The payments target taxpayers who qualified for the third round of stimulus checks in 2021 but either did not receive them or failed to claim the credit on their tax returns. Eligibility is based on income thresholds:
- Individuals earning up to $75,000 annually.
- Couples filing jointly with incomes up to $150,000.
The IRS is urging taxpayers to verify their eligibility through the Get My Payment tool on the agency’s website or consult their 2021 tax records.
How to Claim Unclaimed Payments
Taxpayers who believe they are eligible but did not receive the payment can still file for the Recovery Rebate Credit on their 2021 tax return. For those who have already filed but were unaware of their eligibility, the IRS will automatically process and issue the payment.
Why Now?
This initiative comes as part of a broader IRS effort to resolve unclaimed pandemic-era tax credits. Commissioner Danny Werfel explained:
“We’re committed to ensuring that all eligible taxpayers receive the benefits they deserve. These payments represent a lifeline for many who were impacted by the pandemic.”
What to Expect
The payments will be distributed via direct deposit for taxpayers with banking information on file. Paper checks will be mailed to others. Recipients can expect payments to arrive by late January 2025.
Stimulus Check 2024 Update
While these payments address past eligibility, there is no confirmation of new stimulus checks for 2024. Taxpayers are encouraged to stay updated on federal relief efforts and ensure their tax filings are accurate to claim any available credits.
For additional information, visit IRS.gov.