One million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now? | Consumer alert

On December 23, 2024By Littum

About 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks. The money is deposited directly into eligible people’s bank accounts or sent by mail with a paper check. Most people should not get their hopes up to receive the cash. The IRS says it is doling out about $2.4 billion to taxpayers who failed to claim a recovery rebate credit on their 2021 tax returns after missing one of the COVID stimulus payments or receiving less than the full amount. The IRS says most taxpayers eligible for the federal stimulus payments received them.