IRS to Distribute $2.4 Billion in Unclaimed Stimulus Payments of Up to $1,400 to 1 Million Taxpayers by January 2025

Jan 13, 2025, 10:41 PM

The Internal Revenue Service (IRS) is set to distribute approximately $2.4 billion in unclaimed COVID-19 stimulus payments to about 1 million taxpayers who did not receive their eligible payments during the pandemic. The payments, which can be as much as $1,400 per individual, are expected to arrive in bank accounts or mailboxes by late January 2025. The IRS will utilize bank account information from the taxpayers' 2023 tax returns to facilitate these payments. This initiative aims to ensure that those who missed out on prior stimulus checks in 2020 and 2021 receive the financial assistance they were entitled to.