April Fools' Day deadline for RMD payments; IRS stimulus check deadline looms for millions

WASHINGTON - Don't let April Fools' Day catch you off guard! The deadline for required minimum distributions (RMDs) is here, and millions could miss out as the $1,400 stimulus payment check deadline is also quickly approaching.

April 1 final day to begin required withdrawals from IRAs and 401(k)s

What we know:

The Internal Revenue Service is reminding retirees that April 1, 2025, is the deadline for beginning required minimum distributions (RMDs) from IRAs, 401(k)s, and similar workplace retirement plans.

Most retirees who turned 73 in 2024 are required to start receiving payments by this date. While RMDs are typically due by year-end, a special provision allows individuals born after Dec. 31, 1950, to delay their first distribution until April 1 of the following year.

The IRS encourages eligible retirees to ensure compliance to avoid potential penalties.

Find more information on RMDs online

READ MORE: $1400 IRS stimulus checks, $1 billion in unclaimed tax refunds & $5000 DOGE checks update

$1,400 stimulus payments for those who did not claim Recovery Rebate Credit

What we know:

In December 2024, the Internal Revenue Service (IRS) announced plans to automatically issue payments to individuals who failed to claim the Recovery Rebate Credit on their 2021 tax returns.

The Recovery Rebate Credit, a refundable credit, is available to those who missed one or more Economic Impact Payments (EIPs), often referred to as stimulus payments.

While most eligible taxpayers have already received their payments or credits, the IRS notes that individuals who have not yet filed their 2021 tax returns may still qualify.

Eligible taxpayers must file their returns and claim the Recovery Rebate Credit by the April 15, 2025, deadline. Payment amounts will vary based on individual circumstances, with a maximum of $1,400 per person. The IRS estimates a total payment disbursement of approximately $2.4 billion. 

Additional details can be found on the IRS website.

READ MORE: Deadline approaches to claim $1,400 IRS stimulus check – are you eligible?