The IRS is set to send out up to one million payments of up to $1,400 for eligible taxpayers who didn’t claim a COVID-related rebate credit.
According to a press release, the payments will be made to taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.
The IRS says the credit was intended for individuals who did not receive one or more of the Economic Impact Payments, or stimulus payments, during the COVID pandemic. A total of three rounds of payments went out to taxpayers based on a variety of factors, including income, filing status and number of dependents.
Taxpayers do not need to take any action to receive their payments. They payouts will go out in December, and will either be delivered via direct deposit or sent by paper check. Taxpayers will also receive a separate letter alerting them to the payment.
IRS Commissioner Danny Werfel said that more than one million taxpayers did not claim the payment even though they were eligible.
“To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it,” he said.
The maximum payment is $1,400 per person, with approximately $2.4 billion expected to be delivered to eligible taxpayers.
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More information can be found on the IRS website.
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