The IRS is sending automatic payments to eligible taxpayers who missed claiming a credit on their 2021 tax returns
Washington: The IRS is rolling out about $2.4 billion in automatic payments this month. This is for taxpayers who didn’t claim the Recovery Rebate Credit on their 2021 tax returns. If you missed out, you could get up to $1,400.
So, here’s the deal. If you filed your 2021 taxes but didn’t fill in the Recovery Rebate Credit section, you might be in luck. The IRS found that around a million folks overlooked this credit, even though they were eligible.
These payments are meant for those who didn’t receive their COVID stimulus checks back in 2020 and 2021. The IRS is making it easy by sending the money automatically, so you won’t have to file any extra paperwork.
If you qualify, you don’t need to do anything. The IRS will send you a letter letting you know about the payment. Expect to see the money in your bank account or as a check by late January.
Haven’t filed your 2021 taxes yet? You can still get the payment, but you need to file and claim the credit by April 15, 2025. Even if you didn’t earn much, it’s worth it to file.
Just a heads up, there were three rounds of COVID stimulus payments, totaling around $814 billion. The amount you got depended on your income and family situation. So, if you missed out before, now’s your chance to get what you’re owed!
