IRS to Distribute Over $1,400 in Stimulus Payments to 1 Million Taxpayers – Are You Eligible?

The IRS is set to send automatic payments to approximately 1 million taxpayers in early 2025. These payments are for those who missed out on one or more Economic Impact Payments (stimulus payments) or did not claim the Recovery Rebate Credit on their 2021 tax returns. The maximum payment amount individuals can receive is $1,400.

These payments will be sent automatically, so no action is needed from eligible taxpayers. The funds will be sent to the bank account listed on their 2023 tax return, and those who have closed their bank account will have the payment reissued to the address on record.

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The total payout will amount to $2.4 billion, and recipients should expect the payment by late January 2025. However, taxpayers who have not filed their 2021 returns should do so before the April 15, 2025 deadline to claim any missed benefits.

For California taxpayers, this means they may receive a portion of the total $2.4 billion if they qualify for the Recovery Rebate Credit but failed to claim it on their 2021 tax return.

Stay updated and make sure to file any pending returns to ensure eligibility for the automatic payment .

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