The holiday season is over, and while many enjoyed their Christmas gifts, some might feel the sting of their wallets after all the gift-giving.
But there’s good news for a million Americans—IRS is sending out $2.4 billion in special payments. These payments are aimed at those who didn’t receive the full amount of their federal stimulus checks during the pandemic.
Who Will Get the Special Payments?
For some lucky individuals, the New Year might bring an unexpected gift: money from the IRS. This time, the payments are aimed at people who missed out on stimulus money during the three rounds of checks that were sent out to Americans during the pandemic.
The IRS has announced that it will be sending out $2.4 billion in “special payments” to these individuals. In total, the payments will be split between one million people, each of whom will receive up to $1,400.
The special payments are designed to help those who did not receive all the money they were eligible for during the three rounds of stimulus checks sent out during the COVID-19 pandemic. The IRS is now working to ensure that those individuals receive the full amount they were owed.
Automatic Payments Without Extra Effort
One of the best parts of this program is that the payments will be automatic. IRS Commissioner Danny Werfel explained that this is to “minimize headaches” for taxpayers. Eligible individuals will not need to go through the complicated process of filing an amended return to receive their payment.
Instead, these payments will be sent out automatically, and people who qualify will see the money without any extra steps. The IRS is taking care of everything, ensuring the process is as smooth and hassle-free as possible for everyone involved.
How Much Will You Get?
The amount you receive will depend on how much stimulus money you were originally owed but did not receive. The maximum amount anyone can get is $1,400.
If you were one of the people who missed out on some or all of your stimulus checks during the pandemic, you might receive a payment for that amount.
It’s important to note that not everyone will get the full $1,400. The exact amount will vary based on individual circumstances. The IRS will calculate how much each person is owed and send out the appropriate payment.
How Will You Know If You’re Getting the Payment?
If you are eligible for the special payments, the IRS will notify you before sending the money. According to CBS, the IRS will send out letters to recipients to inform them that their payment is on the way. This letter will include all the details you need to know about the payment.
The IRS has also said that most of the payments will be made in December, with the majority of payments expected to be sent out by late January 2025.
Keep an Eye on Your Mail and Bank Account
If you think you might be one of the lucky people who didn’t get all of your stimulus money during the pandemic, it’s a good idea to keep an eye on your mailbox and bank account. You could receive a check or a direct deposit, depending on how the IRS has your information set up.
The best way to stay informed is to wait for the letter from the IRS. The letter will tell you exactly how much money you will receive and when you can expect it.
Don’t Miss Out on Your $1,400
If you believe you didn’t get the full amount of your stimulus payments in the past, this is a great opportunity to get the money you deserve. An extra $1,400 could be on its way to you, just in time for the New Year.
So, make sure you watch for any mail from the IRS, and check your bank account for a possible direct deposit. If you receive a letter, it means your payment is on the way!
The IRS is making this process as easy as possible for eligible Americans, and it’s great to see that the government is making an effort to ensure everyone gets what they were owed.
Archer Bannister is a journalist with 4 years of experience covering hard-hitting stories. Currently working with Mikeandjonpodcast, Archer specializes in delivering timely and in-depth updates on a variety of topics, including crime news, politics, and national issues affecting the USA. His expertise and dedication to delivering accurate, impactful news make him a trusted voice for audiences seeking to stay informed on critical topics.
