IRS stimulus check update: Deadline, eligibility, and how to claim your refund
$1400 IRS stimulus checks update
The Internal Revenue Service (IRS) announced plans in December 2024 to automatically issue payments to individuals who did not claim the Recovery Rebate Credit on their 2021 tax returns.
WASHINGTON - Time is running out for individuals who missed claiming the Recovery Rebate Credit on their 2021 tax returns. This refundable credit is available to those who did not receive one or more Economic Impact Payments (EIPs), commonly referred to as stimulus checks.
READ MORE: $1400 IRS stimulus checks, $1 billion in unclaimed tax refunds & $5000 DOGE checks update
Claim deadline and payment details
What we know:
While the Internal Revenue Service (IRS) has stated that most eligible taxpayers have already received their payments or credits, individuals who have not yet filed their 2021 returns may still qualify. In December 2024, the IRS announced that it would automatically issue payments to those who had not claimed the Recovery Rebate Credit.
Who is eligible and how to receive payments
Eligible taxpayers must file their 2021 tax returns and claim the credit by the April 15, 2025, deadline. Payments, which vary based on individual circumstances, can reach a maximum of $1,400 per person. The IRS estimates total payments will amount to approximately $2.4 billion.
How automatic payments work
Taxpayers who qualify but failed to claim the Recovery Rebate Credit on their 2021 tax returns were expected to receive payments by late January 2025. The payments will be sent to the bank account listed on the taxpayer’s 2023 tax return or mailed to the address on record.
The IRS will issue letters to taxpayers receiving these 2021 Recovery Rebate Credit payments. If a taxpayer's bank account has been closed since filing their 2023 tax return, no action is required. In such cases, the bank will return the payment to the IRS, and the refund will be reissued to the taxpayer’s listed address.
MORE ONLINE: How was the payment was calculated?
Taxpayers who didn’t file a 2021 tax return may be eligible to claim the credit if they file a return
The IRS is reminding taxpayers who have not filed their 2021 tax returns that they may still qualify for a refund by claiming the Recovery Rebate Credit. Eligible individuals must file their returns by the April 15, 2025, deadline to receive the credit.
Even taxpayers with little to no income from employment, business, or other sources are encouraged to file, as they may still be eligible for the Recovery Rebate Credit.
The Source: Information for this story was provided by the Internal Revenue Service and previous FOX 5 reporting.