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IRS Announces New $1,400 Payments for Millions: Don’t Miss Out

IRS Announces New $1,400 Payments for Millions: Don’t Miss Out

Exciting news for taxpayers! The IRS is issuing $1,400 direct deposit payments in January 2025 to nearly one million individuals who missed out on their 2021 Recovery Rebate Credit. If you didn’t claim this credit, now is your chance to receive much-needed financial relief. Here’s everything you need to know about eligibility and payment dates.

Who Is Eligible?

The $1,400 payments are part of the IRS’s effort to ensure all eligible individuals receive the financial support they were entitled to in 2021. To qualify, you must:

  • Have missed claiming the 2021 Recovery Rebate Credit on your tax return.
  • Meet income requirements:
    • Single filers: Income below $80,000.
    • Heads of household: Income below $120,000.
    • Married filing jointly: Income below $160,000.
  • Have filed a 2021 tax return.

How and When Will Payments Be Sent?

The IRS started processing these payments in December 2024, with all eligible recipients expected to receive their money by late January 2025. Payments will be sent either:

  • Via direct deposit if banking information was provided on a 2023 tax return.
  • As a paper check mailed to the address on file.

No Action Required for Eligible Taxpayers

The best part? You don’t have to do anything! The IRS has identified those who missed the credit and will automatically issue the payments.

What If You Didn’t File a 2021 Tax Return?

If you haven’t yet filed a 2021 tax return, you still have time to claim the Recovery Rebate Credit. The filing deadline is April 15, 2025. Act now to secure your payment!

Why This Matters

This initiative represents the IRS’s ongoing commitment to ensuring everyone receives the financial relief they deserve. For many, this $1,400 payment could provide a vital boost during tough economic times.

Stay informed and check your eligibility today—you might just find $1,400 heading your way

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