The United States Internal Revenue Service (IRS) has announced plans to distribute unclaimed stimulus payments to approximately one million taxpayers, starting later this month.
These payments, part of the 2021 Recovery Rebate Credit, will be issued automatically and are expected to reach eligible individuals by late January.
“The IRS announced the special step after reviewing internal data showing many eligible taxpayers who filed a return but did not claim the credit,” the agency stated in a press release.
Eligible taxpayers can receive up to $1,400, with a total of $2.4 billion set to be distributed to those who missed the credit.
The payments will either be directly deposited into bank accounts provided on 2023 tax returns or sent as paper cheques to the address on record. The IRS has confirmed that taxpayers do not need to take any action to receive these payments.
Those eligible will also receive a separate letter notifying them of their payment.
The IRS further clarified that individuals who did not file taxes in 2021 might still qualify for the stimulus payments. However, such individuals must file their returns by April 15, 2025, to claim the credit and any other refunds they may be owed.
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Taxpayers who entered “$0” or left the Recovery Rebate Credit field blank on their 2021 tax forms are eligible for the payments, provided IRS data confirms their qualification.
“Taxpayers where IRS data demonstrates a taxpayer qualifies for the credit” will be included, the agency noted.
