IRS Distributes $2.4 Billion in Stimulus Checks

The IRS is set to distribute approximately $2.4 billion in automatic payments to around 1 million taxpayers who failed to claim the Recovery Rebate Credit on their 2021 tax returns. These payments, which can reach up to $1,400 per individual, are intended for those who either left the credit field blank or reported it as $0 despite being eligible. IRS Commissioner Danny Werfel noted that the agency identified these taxpayers through internal data analysis, aiming to simplify the process by making payments automatic without requiring amended returns. Eligible recipients will receive notifications via mail and payments will be delivered by direct deposit or check by the end of January. Taxpayers who did not file a 2021 return still have the opportunity to claim the credit if they submit their return by April 15. This initiative reflects the IRS's commitment to assist taxpayers and ensure they receive the financial support they are entitled to.