The Internal Revenue Service (IRS) has identified about 1 million taxpayers who overlooked claiming a COVID-era tax credit, resulting in automatic payments of up to $1,400 each.
IRS Commissioner Danny Werfel stated, 'Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible,' emphasizing the importance of automating the payment process.
The IRS's proactive decision to issue the payments automatically aims to provide relief without requiring taxpayers to navigate the complicated process of filing an amended return.
With an expected amount of $2.4 billion in payments, this initiative serves as a significant financial boost for those who were eligible but previously missed out on the credit.
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