The IRS is distributing about $2.4 billion to approximately 1 million taxpayers who missed claiming the Recovery Rebate Credit on their 2021 tax returns.
IRS Commissioner Danny Werfel explained, "One million taxpayers overlooked claiming this complex credit when they were actually eligible," highlighting the need for accurate tax claims.
Eligible taxpayers don't need to take action; payments will be automatically sent out via direct deposit or check by late January 2025.
Payments will vary, with a maximum of $1,400 per individual, as the IRS aims to rectify missed credits from 2021 tax returns.
Collection
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