Who Is Eligible?
Filed a 2021 Tax Return:
Eligible taxpayers are those who filed a 2021 tax return but left the Recovery Rebate Credit field blank or entered $0, despite being eligible for the credit.
Missed Previous Stimulus Payments:
The Recovery Rebate Credit is designed for individuals who did not receive one or more Economic Impact Payments (EIPs), commonly known as stimulus checks, during the pandemic.
Non-Filers:
If you did not file a 2021 tax return, you may still be eligible for the credit. However, you must file your 2021 return by April 15, 2025, to claim the Recovery Rebate Credit and any other refunds you may be owed.
How Will Payments Be Issued?
Automatic Payments:
Eligible taxpayers do not need to take any action. The IRS will automatically send payments via direct deposit or paper check, depending on the information provided in your 2023 tax return.
Notification:
Recipients will receive a letter from the IRS notifying them of the payment and explaining how the amount was calculated.
Bank Account Changes:
If
your bank account has closed since filing your 2023 tax return, the IRS
will reissue the payment as a paper check to your mailing address on
record.
Key Details About the Recovery Rebate Credit
Maximum Payment: $1,400 per individual.
Total Distribution: $2.4 billion.
Purpose: To ensure taxpayers receive the full amount of stimulus payments they were entitled to during the pandemic.
What If You’re Not Sure About Eligibility?
Check Your 2021 Tax Return:
Review your 2021 tax return for the Recovery Rebate Credit line item. If it’s blank or marked as $0, you may qualify.
Use Your IRS Online Account:
Log in to your IRS Online Account to view your tax records and confirm if the credit was claimed.
Contact the IRS:
If you’re still unsure, contact the IRS directly for assistance.
Important Deadlines
Automatic Payments: Most payments will be issued by late January 2025.
Filing Deadline for Non-Filers: April 15, 2025, to claim the Recovery Rebate Credit.
Conclusion
The IRS is working to ensure that eligible taxpayers receive the stimulus payments they missed during the pandemic. If you qualify, you can expect a payment of up to $1,400 by late January 2025. For those who haven’t filed a 2021 tax return, now is the time to act to claim your credit before the April 15 deadline.