Eligible Arizonans and Americans who missed claiming the Recovery Rebate Credit in 2021 may soon receive automatic payments from the IRS. The agency plans to distribute funds starting this month to around 1 million taxpayers who filed their 2021 returns but did not claim the credit, which could benefit approximately 20,000 households in Arizona alone. The Recovery Rebate Credit was part of the pandemic relief efforts aimed at supporting the economy during COVID-19 lockdowns. Eligible taxpayers can expect a maximum payment of $1,400, with a total of $2.4 billion being disbursed. Payments will be sent automatically, either via paper checks or direct deposit, and recipients will receive a notification letter. Those who did not file their 2021 taxes may still be eligible but must file by April 15, 2025, to claim the credit. The IRS has emphasized that individuals who left the credit section blank or reported $0 are eligible for this payment.
Read the full article here.