IRS Issues $2.4 Billion in Automatic Payments

The IRS is issuing automatic stimulus payments of up to $1,400 to approximately one million Americans who missed claiming the Recovery Rebate Credit on their 2021 tax returns. This effort is part of a broader initiative to ensure that eligible taxpayers receive financial support without having to undergo additional paperwork. Payments began distribution in late December 2024 and are expected to be completed by the end of January 2025. Eligible individuals do not need to take any action to receive the payments, which will be sent directly via direct deposit or paper checks. For those who have not yet filed their 2021 taxes, they can still qualify for the payment by filing before the April 15, 2025 deadline. This initiative aims to address gaps in pandemic-related financial relief by simplifying the process for taxpayers who faced challenges during unprecedented times.