"IRS officials recently discovered that many taxpayers who qualified for the Recovery Rebate Credit failed to claim it on their 2021 tax returns. Individuals who did not claim it and did not receive a COVID stimulus payment—or received less than they should have—are eligible to receive the stimulus checks, which total a whopping $2.4 billion."
"Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible. To minimize headaches and get this money to eligible taxpayers, we're making these payments automatic..."
"Most taxpayers eligible for the federal stimulus payments, officially called Economic Impact Payments (EIP), have already received them. However, these new payments target taxpayers who filed a 2021 tax return but either left the Recovery Rebate Credit field blank or incorrectly listed $0 when they were eligible."
"Taxpayers who qualify for the payments won't need to do anything if they qualify for the 2024 IRS stimulus check- they'll be distributed automatically. The IRS plans to send the payments either by direct deposit or paper checks, with most expected to arrive by late January 2025."
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