The United States Internal Revenue Service (IRS) recently announced plans to distribute unclaimed stimulus payments to approximately one million taxpayers, starting later this month.

These payments, part of the 2021 Recovery Rebate Credit, will be issued automatically and are expected to reach eligible individuals by late January.

“The IRS announced the special step after reviewing internal data showing many eligible taxpayers who filed a return but did not claim the credit,” the agency stated in a press release.

Eligible taxpayers can receive up to $1,400, with a total of $2.4 billion set to be distributed to those who missed the credit.

Eligibility for the 2021 Recovery Rebate Credit

The 2021 Recovery Rebate Credit was designed for individuals who did not receive a third stimulus check issued by the federal government following the shutdowns caused by the coronavirus pandemic.

1. Individuals Who Did Not Claim the Credit

Those who were eligible for the credit but did not claim it on their 2021 tax returns will receive a payment from the IRS within the next month.

2. Single Taxpayers

Single taxpayers who did not claim any dependents on their 2021 tax returns and earned less than $80,000 in that year qualify for at least part, if not all, of the $1,400 payment.

3. Married Taxpayers

For married taxpayers who filed a joint return, their combined income must have been less than $160,000 to qualify for some or all of the tax credit. Additionally, individuals who filed as head of household and earned less than $112,500 are also eligible.

However, it is important to note that if you were claimed as a dependent in 2021, you do not qualify for this special IRS payment.

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