By the end of January, about 1 million taxpayers will receive special payments of up to $1,400 from the IRS.
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The IRS is distributing about $2.4 billion to taxpayers who didn’t receive their COVID stimulus payments. By the end of January, about 1 million taxpayers will receive special payments of up to $1,400 from the IRS.
The IRS said it’s distributing these payments to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns. The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments, also known as stimulus payments.
“Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible,” IRS Commissioner Danny Werfel said in a statement.
One taxpayer who benefited was Ginny Bultman, 61, from Colorado. Bultman and her husband didn’t receive a stimulus payment back in 2021. After reading about the latest IRS payments, she realized she qualified for the Recovery Rebate Credit. A day later, she got her check in the mail.
