One Million Americans Set To Receive IRS Stimulus Checks—Here's What To Know

About 1 million taxpayers would be happier the moment that they receive their COVID stimulus payments from the IRS by the end of January up to $1,400.

The Associated Press reported that the payments that the eligible ones will receive are actually the COVID stimulus payments that they were not able to receive. According to the IRS, a total of about $2.4 billion will be sent out and eligible ones can look forward to receiving their share.

Those who are eligible are the ones who were not able to claim the Recovery Rebate Credit on their 2021 tax returns. This is a refundable credit that are given to those who did not receive their stimulus payments also known as the Economic Impact Payments.

IRS Commissioner Danny Werfel said that when they looked at their data, they realized that there were one million taxpayers who overlooked claiming the EIP even though that they were eligible for it.

AP cited one taxpayer who was able to receive a Recovery Rebate Credit - 61-year-old Ginny Bultman from Colorado. She and her husband were not able to receive the stimulus payments and only realized that she was qualified for it after reading about the latest IRS payments. The check quickly came in the mail a day later.

Those eligible for special payments are those who filed their 2021 tax return but left blank or indicated $0 in the Recovery Rebate Credit field, Fox2 reported. The payments could also vary but the maximum amount that an eligible taxpayer could receive is $1,400.

"To minimize headaches and get this money to eligible taxpayers, we're making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it," said Werfel.

Those who qualify for the Recovery Rebate Credit actually do not have to take action. The IRS will be sending out letters to eligible taxpayers that would be notifying them of their eligibility for a special payment.

The IRS would be sending out payments automatically by the end of the month and recipients would receive it either through check in the mail or through direct deposit. The payments will be sent to the bank account that was listed on the 2023 return of the taxpayer or to the address on file.

Those who have not filed a tax return in 2021 could still claim the Recovery Rebate Credit, but they should file by April 15, 2025. Taxpayers who are currently unemployed, or those whose income from a business source is non-existent, still need to file to be able to receive the special payments.