IRS to Send $2.4 Billion in Unclaimed 2021 Stimulus Checks by Late January 2025

Dec 28, 2024, 01:20 PM

The Internal Revenue Service (IRS) announced that it will distribute approximately $2.4 billion in unclaimed stimulus checks to about one million taxpayers in the coming weeks. These payments, stemming from the Recovery Rebate Credit that eligible taxpayers failed to claim on their 2021 tax returns, will be automatically sent to recipients' bank accounts or mailed as checks. The maximum payment amount per individual is $1,400. IRS Commissioner Danny Werfel stated that the agency identified one million taxpayers who were eligible for the credit but overlooked claiming it, and these payments are part of the IRS's effort to assist taxpayers without requiring them to file amended returns. The payments are expected to be issued by late January 2025. Taxpayers who did not file a 2021 return still have until April 15, 2025, to claim the credit.