In a significant move, the IRS is set to distribute $1,400 stimulus checks to eligible individuals who missed out on claiming their Recovery Rebate Credit. This initiative aims to reach over a million taxpayers who were eligible but did not receive the third stimulus payment during the COVID-19 pandemic.

“Most taxpayers eligible for EIPs have already received their EIP or Recovery Rebate Credit,” the website noted. “Qualified taxpayers are those who filed a 2021 tax return, but where the data field for the Recovery Rebate Credit was left blank or was filled out as $0 when the taxpayer was actually eligible for the credit.”

"Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible."

Taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns will get up to $1,400 this month.

In an effort to alleviate the economic strain caused by inflation and reduce poverty levels, the U.S. Social Security Administration (SSA) is offering a $500 stimulus check to eligible immigrants. This initiative aims to help immigrants cover essential needs such as food,

According to a press release from the IRS, about $2.4 billion was expected to be distributed in December, and in most cases, the payments would arrive by late January 2025 to the bank account listed on the taxpayer’s 2023 tax return or to the address on record.