Around a million Americans are expected to receive their share of the upcoming $2.4 billion payout from the Internal Revenue Service (IRS).
The agency says it will send the funds by the end of the month to eligible individuals who have not claimed the Recovery Rebate Credit, a refundable credit for taxpayers who do not receive coronavirus-related stimulus payments on their 2021 tax return have.
According to the IRS, some eligible Americans will receive up to $1,400.
“No action is required for eligible taxpayers to receive these payments, which will be made automatically in December and should arrive in most cases by the end of January 2025. Payments are automatically deposited directly or sent by check; Eligible taxpayers will also receive a separate letter informing them of the payment.”
IRS Commissioner Danny Werfel says the federal agency’s internal data shows that a million taxpayers “failed” to claim the refund credit even though they were eligible.
“To minimize the headaches and get this money to eligible taxpayers, we are making these payments automatically, meaning these individuals do not have to go through the extensive…
