The Internal Revenue Service (IRS) will issue automatic payments of up to $1,400 to approximately 1 million taxpayers who missed claiming the 2021 Recovery Rebate Credit. These payments, totaling an estimated $2.4 billion, will be sent out in December with most arriving by late January either by direct deposit or paper check.
The money will go to individuals who still haven't been paid the Covid-19 relief funds — more popularly known as stimulus checks — they were due.
The payments will go to individuals who did not claim the 2021 Recovery Rebate Credit on their tax returns for that year and who are eligible for the money.The maximum payment will be $1,400 per individual and will vary based on circumstances, according to the IRS. The agency will make an estimated total of about $2.4 billion in payments.
The new payments are slated to be sent out automatically in December. In most cases, the money should arrive by late January, according to the IRS. Direct deposit payments will go to taxpayers who have current bank account information on file with the IRS.
Stimulus Checks IRS Tax Payments Economic Relief Covid-19
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