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

Jan 13, 2025, 09:34 PM

The Internal Revenue Service (IRS) is set to distribute approximately $2.4 billion in unclaimed stimulus payments to about 1 million taxpayers who did not receive their COVID-19 relief payments during the pandemic. Eligible individuals may receive payments of up to $1,400, with distributions expected to occur by the end of January. These payments are part of the Recovery Rebate Credit for those who failed to claim it on their 2021 tax returns. The IRS has emphasized that these payments will be automatic, meaning recipients do not need to take any action to receive the funds.