By the end of this month, taxpayers could receive a stimulus check of up to $1,400, depending on how they filed their 2021 tax returns.
In December, the Internal Revenue Service (IRS) announced it would distribute approximately $2.4 billion in stimulus checks—up to $1,400 per individual—to U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.
The IRS initiated this distribution after reviewing internal data and discovering that many eligible taxpayers who filed a 2021 return had missed claiming the Recovery Rebate Credit. This refundable credit is designed for individuals who did not receive one or more Economic Impact Payments, commonly referred to as stimulus payments.
Here’s what you need to know about this latest round of stimulus checks and the eligibility criteria.
Who Is Eligible for the Latest IRS Stimulus Check?
Taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns are eligible for the latest stimulus check.
To verify eligibility, taxpayers can review their 2021 tax return and check the Recovery Rebate Credit field. If this section was left blank or filled out as $0, they may qualify for the payment.
How do taxpayers claim the latest IRS stimulus check?
Taxpayers do not need to take action to receive the latest stimulus check. The IRS began automatically sending out payments in December, and they will continue through late January.
Eligible taxpayers will receive a letter notifying them of the payment, and the payments will either be automatically direct deposited or sent by paper check.
How much money will taxpayers receive?
An eligible taxpayer may receive up to $1,400, according to the IRS.
