(TheLastPatriotNews.com) – As the burden of inflation continues to ravage American wallets, the IRS has announced it will distribute an additional $2.4 billion through special payments offering a small respite for nearly 1 million Americans who missed claiming their 2021 stimulus checks.
See the tweet below!
About 1 million taxpayers are set to receive special payments of up to $1,400 as the IRS aims to address unclaimed funds from the 2021 Recovery Rebate Credit.
This initiative targets those who did not fully receive Economic Impact Payments and failed to claim the rebate credit on their 2021 tax returns.
The IRS will issue these payments automatically, starting in December, with most arriving by the end of January 2025.
The $2.4 billion distribution intends to provide relief amid ongoing economic struggles that have persisted despite the apparent resilience of the U.S. economy after the pandemic.
Americans have continued to face high prices on essentials such as food and housing.
This financial hardship pressured voters during the pre-election period, with many attributing their economic woes to current administration policies.
The responsibility to ensure eligible taxpayers receive this financial relief falls squarely on the IRS.
“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,” stated IRS Commissioner Danny Werfel, cited by Newsweek. \
Eligible individuals should expect to receive their funds through direct deposit or an old-fashioned paper check, depending on existing records.
The IRS will also notify recipients via letters before payments are made.
However, for those taxpayers who have not yet filed their 2021 returns, a chance to claim the credit remains open until April 15, 2025.
This extra effort by the IRS stands as testimony to its commitment to assist taxpayers in these challenging times.
The revenue agency identified recipients by combing through internal data, pinpointing those who filed tax returns but overlooked the Recovery Rebate Credit.
IRS Commissioner Werfel emphasized, “Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible.”
The Recovery Rebate Credit was specifically intended for individuals who might have missed some or all of the stimulus checks issued amid the pandemic.
Importantly, these payments do not count as income for federal benefit eligibility, easing taxpayer concerns about potential impacts.
This effort forms part of the IRS’s wider aim to remind taxpayers of eligible credits and refunds as the 2025 tax filing season approaches.
As Americans grapple with rising costs, these IRS “special payments” may provide much-needed relief.
$2.4 BILLION MORE 🤦🏼♀️
The IRS said it’s distributing about $2.4 billion to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns
Most taxpayers eligible for the federal stimulus payments, (Covid Relief), formally known as Economic Impact Payments, have… pic.twitter.com/ZyXxt5MuKU
— RealKay_2 FREEDOM (@Real_K1776) December 23, 2024
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