The IRS is set to distribute approximately $2.4 billion to around one million taxpayers who missed out on claiming the Recovery Rebate Credit on their 2021 tax returns. These special payments, which can be as high as $1,400 per individual, are aimed at those who either left the credit field blank or incorrectly filled it out as $0 despite being eligible. IRS Commissioner Danny Werfel noted that many taxpayers overlooked this credit, prompting the automatic distribution of funds to minimize the hassle of filing amended returns. One beneficiary, Ginny Bultman from Colorado, was pleasantly surprised to receive a check after realizing she qualified for the credit. Eligible taxpayers will receive notifications from the IRS, and payments will be sent via direct deposit or check by late January. Those who haven’t filed their 2021 taxes yet can still qualify, provided they file and claim the credit by the April 15, 2025 deadline.
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