IRS Sending Out $2.4 Billion in Stimulus Checks: The IRS has announced it is sending out $2.4 billion in stimulus checks to around 1 million Americans who missed out on a key benefit: the 2021 Recovery Rebate Credit. If you didn’t receive the third stimulus check (up to $1,400 per person) in 2021, this could be your chance to claim what you’re owed. But the clock is ticking—eligible taxpayers must file or amend their 2021 tax return by April 15, 2025. This unexpected windfall is part of a targeted effort by the IRS to ensure eligible individuals don’t miss out on crucial pandemic-era financial relief. Whether you’re a working professional, retiree, or someone with little to no income during 2021, this article breaks down exactly what you need to know—and do—to receive your money.
IRS Sending Out $2.4 Billion in Stimulus Checks
If you missed the 2021 Recovery Rebate Credit, the IRS is offering a second chance—but only for a limited time. With $2.4 billion set to be distributed to 1 million eligible taxpayers, this is an opportunity you don’t want to miss. The good news? If you’re eligible and already filed, your payment could arrive automatically. If you haven’t filed yet, make it a priority before April 15, 2025. Don’t leave your money on the table—review your 2021 tax situation today and take the necessary steps to claim what you’re owed.
| Detail | Information |
|---|---|
| Total Distributed | $2.4 billion |
| Individuals Affected | ~1 million taxpayers |
| Maximum Payment | $1,400 per eligible individual |
| Eligibility Criteria | Did not receive or claim full 2021 Recovery Rebate Credit |
| Deadline to File | April 15, 2025 |
| Payment Methods | Direct deposit or mailed check |
| Check Status & Filing Info | IRS Recovery Rebate Credit |
What Is the Recovery Rebate Credit?
The Recovery Rebate Credit (RRC) was created to help individuals and families who didn’t receive full or partial Economic Impact Payments (EIPs)—also known as stimulus checks—during the COVID-19 pandemic. This credit was applied on 2020 and 2021 tax returns. In 2021, individuals were eligible for up to $1,400 per adult and dependent.
While most Americans received their third-round payments automatically, the IRS later found that around 1 million eligible people did not claim the credit when filing their 2021 returns.
Why This Matters: Real-Life Example
Imagine this: Amanda, a single mother of two, had no income in 2021 and didn’t think she needed to file a tax return. Because of that, she missed out on a potential $4,200 ($1,400 per person). Thanks to the IRS review, she’ll now receive this payment—but only if she files her 2021 tax return before the deadline.
Who Qualifies for This Stimulus Payment?
You may be eligible if:
- You were a U.S. citizen or resident alien in 2021.
- You filed a 2021 tax return but either did not claim the Recovery Rebate Credit or claimed $0.
- Your Adjusted Gross Income (AGI) in 2021 was within these limits:
- $75,000 or less for single filers (phases out at $80,000)
- $150,000 or less for married couples filing jointly (phases out at $160,000)
- $112,500 or less for head of household
- You were not claimed as a dependent on another person’s tax return.
Even if you had no income, you may still be eligible for the credit.
How and When Will You Get the Payment?
Payment Timeline:
- The IRS began issuing payments in December 2024.
- Most recipients received funds via direct deposit or paper check by January 2025.
Delivery Method:
- If your bank account from your most recent tax return is active, you’ll receive a direct deposit.
- If not, a paper check will be mailed to the address on file.
You’ll also get an official IRS letter notifying you of the payment amount and delivery method.
What If You Haven’t Filed a 2021 Return?
You still have time—but not much. The deadline to file a 2021 return and claim the Recovery Rebate Credit is:
April 15, 2025
Even if you weren’t required to file due to low income, you must submit a 2021 tax return to claim this credit. You can file electronically or mail in a paper return.
Step-by-Step: How to Claim the $2.4 Billion in Stimulus Checks?
- Access Your 2021 Tax Records:
- Visit your IRS Online Account to check if you claimed the RRC.
- Did You Miss It?:
- If yes, prepare to file or amend your 2021 return using Form 1040-X.
- Filing Options:
- File online through a reputable tax software (like TurboTax or H&R Block) or the IRS Free File.
- Mail a paper return or amendment to the IRS if you prefer.
- Track Your Payment:
- Use the IRS “Where’s My Refund?” or IRS2Go app for updates.
Common Mistakes to Avoid
- Assuming You’re Ineligible: Even people with zero income in 2021 may qualify.
- Not Filing on Time: April 15, 2025, is the absolute last day.
- Using the Wrong Tax Year: This credit only applies to the 2021 tax return.
- Overlooking Dependents: You can claim $1,400 for each dependent too.
Should You Hire a Tax Professional?
If you’re unsure whether you’re eligible or how to file an amended return, consider consulting a certified public accountant (CPA) or enrolled agent (EA). This can be especially helpful if:
- Your income was irregular.
- You had dependents or were a caregiver.
- You received partial stimulus payments.
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Frequently Asked Questions (FAQs)
Q1: How do I know if I received the third stimulus check?
A: Log in to your IRS Online Account to view your Economic Impact Payment history.
Q2: Can I still get the money if I didn’t work in 2021?
A: Yes. Income is not a requirement to receive this credit.
Q3: What if I no longer have access to my old bank account?
A: The payment will be returned to the IRS and then reissued via mailed check.
Q4: Will this payment affect my 2024 or 2025 taxes?
A: No. It’s a tax credit applied to your 2021 return and is not taxable income.
