New stimulus checks deadline is approaching

Americans who missed out on one or more pandemic-era stimulus checks may soon receive a payment from the Internal Revenue Service, though the deadline for doing so is fast approaching.

The IRS announced in December that it would be issuing payments ranging up to $1,400 by the end of January to taxpayers who did not claim the Recovery Rebate Credit—a one-time tax credit for those who did not receive Economic Impact Payments, also known as stimulus checks.

The IRS said the checks would be sent automatically and should arrive “in most cases by late January 2025.”

Newsweek reached out to the IRS via email for comment.

Who Is Eligible?

The IRS said the latest round of payments was prompted by a review of internal data, which found that “one million taxpayers” filed their 2021 tax returns but failed to claim the Recovery Rebate Credit.

Taxpayers can determine whether they claimed this credit by reviewing their 2021 tax return and checking if the Recovery Rebate Credit field was blank or marked as $0.

The IRS estimates that this latest set of payments will amount to around $2.4 billion.

What To Know

During the COVID-19 pandemic, the IRS distributed three rounds of stimulus payments, two in 2020 and one in 2021. These amounted to $814 billion in total, according to the Pandemic Response Accountability Committee, an independent body established in 2020 to oversee the proper allocation of coronavirus relief funds.

“The payments vary depending on several factors, but the maximum payment is $1,400 per individual,” the IRS said. “The estimated amount of payments going out will be about $2.4 billion.”

The payments will be automatically deposited into bank accounts or sent via paper check, and eligible taxpayers will receive a separate letter notifying them of the payment.

What People Are Saying

Outgoing IRS Commissioner Danny Werfel in December: “The IRS continues to work hard to make improvements and help taxpayers. These payments are an example of our commitment to go the extra mile for taxpayers.

“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, meaning these people will not be required to go through the extensive process of filing an amended return to receive it.”

What Happens Next

Taxpayers who have not yet filed their 2021 returns may also be eligible, according to the IRS, which encouraged people to do so before April 15 or risk losing the credit.

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