This year, Santa—also known as the IRS—might be delivering a $1,400 surprise to your stocking.
The IRS, everyone’s least expected Christmas gift giver, plans to send out more than $2 billion in checks to Americans this month in a bid to ensure everybody got their 2021 stimulus payments.
Recently, it had an internal review within which indicated that the number of Americans who never received economic impact payments had hit considerable levels. Such checks, the agency pointed out were to be forwarded a season after filing their returns during 2021 taxes and as such the current distributions of money for the withheld benefits are now going on from IRS.
While most eligible Americans already received their stimulus payments, this new round of checks will be sent to those who qualified but failed to claim the recovery rebate credit on their 2021 tax returns.
These people are eligible for up to $1,400 from the federal government, with payments expected to be received by late January 2025 at the latest.
“These payments are an example of our commitment to go the extra mile for taxpayers,”
said IRS Commissioner Danny Werfel.
“We found that 1 million taxpayers missed out on claiming this complex credit,
even though they were eligible.
To make this process easier, we’re making the payments automatic, so recipients won’t have to file an amended return to get their money.”
The $1.9 trillion COVID-19 relief package included stimulus payments of $1,400 to millions of Americans. In order to be eligible for this payment, one must have an annual income below $75,000 or below $150,000 in a household.