Better Late Than Never: IRS Targets $2.4B for Taxpayers Who Didn’t Claim Third Stimulus Check

In 2020 and 2021, the IRS issued three rounds of coronavirus stimulus checks to help those affected by the global pandemic. But if you missed your third payment, the IRS said it will soon send checks of up to $1,400 to $1 million to taxpayers who qualify but did not claim the credit on their 2021 tax return.

In 2020-2021, first President Donald Trump and then President Joe Biden approved three Economic Impact Payments: first stimulus check It will be launched in early 2020, priced at up to US$1,200. second payment Rewards of up to $600 will be awarded in early 2021, and third stimulus payment Prizes of up to $1,400 will be awarded later in 2021.

The government issued more than three checks 476 million payments Exceed $800 billion. Here’s who is eligible to receive a pandemic payment of up to $1,400 from the IRS. Want to know more, here are 2025 tax filing deadline and how Prepare for archiving.

Who is eligible to receive a stimulus payment of up to $1,400 from the IRS?

The IRS stated Most eligible taxpayers have already received funds from their third stimulus payment.

However, the IRS is preparing to issue payments to those who were eligible for the third payment (up to $1,400) but did not receive it.

For example, the IRS says that if you file your 2021 tax return and leave the recovery rebate credit information field blank or enter it as $0 when you qualify for the credit, you will receive a payment.

The IRS says if you didn’t file a 2021 return and are eligible for the credit, file your 2021 return by April 15, 2025, the deadline to claim the credit.

When will the IRS send stimulus checks?

The IRS says if you qualify for the credit but don’t claim the payment on your 2021 tax return, you will automatically receive a payment in late January 2025. The IRS said it will be automatically lifted in December. “We are making these payments automatic,” IRS Commissioner Danny Wayfair said in a statement“This means these individuals will not need to go through the extensive process of filing an amended return to obtain it.”

How will I get my money?

The IRS says payments will be sent to the bank account listed on your 2023 tax return or to your address of record.

If you receive this payment, the IRS will also send you a letter.

If you close the bank account you used to file your 2023 return, the bank will refund the payment to the IRS, and the IRS will send the refund to your address of record.

Want to know more, here are Our year-end tax checklist and How your home can help with refunds.