IRS to Distribute $2.4 Billion in Recovery Rebate Credit Payments to 1 Million Taxpayers, Up to $1,400 Each by Late January 2025

Dec 23, 2024, 03:16 AM

The Internal Revenue Service (IRS) has announced it will distribute approximately $2.4 billion in automatic payments to about 1 million taxpayers who missed out on pandemic-era stimulus checks. Each eligible taxpayer can expect to receive up to $1,400. The payments are part of the Recovery Rebate Credit initiative and will be sent out automatically, requiring no action from recipients. Payments are expected to be delivered by direct deposit or check by late January 2025. The IRS has identified these taxpayers based on internal data, indicating that they were eligible for the credit but did not claim it during the previous distribution period.