Good news for millions of Americans: extra stimulus payments are on the way! These payments, which started in December 2024, will continue through January 2025.
If you missed out on all or part of your federal stimulus money during the pandemic, you could be eligible for this new payout.
According to the IRS, about 1 million Americans will receive payments, totaling $2.4 billion. The maximum amount you can get is $1,400, and the best part is that the process is automatic. No need to file any extra paperwork or amended tax returns.
IRS Commissioner Danny Werfel explained in a statement, “We’re making these payments automatic to reduce hassle for eligible taxpayers.”
Who Gets the Payments?
The IRS is focusing on people who didn’t get the full amount they were entitled to during the three rounds of stimulus payouts. If this applies to you, the IRS will notify you with a letter explaining that a payment is on the way.
Most payments are being issued in December 2024, and the IRS expects to wrap up the process by the end of January 2025.
How Much Will You Get?
The payment amounts will vary from person to person, but the maximum anyone can receive is $1,400.
The IRS has not shared specific details about how the amounts are calculated, but it’s based on the amount you missed out on during the earlier stimulus payments.
How Will You Receive the Money?
The IRS will send the payments through direct deposit or as a paper check. If you’re eligible, keep an eye on your bank account or mailbox for a letter or payment notification.
If you think you didn’t get all of your stimulus money before, it’s worth staying alert. Watch for a letter from the IRS explaining your eligibility and payment details.
Why Are These Payments Happening Now?
These payments are part of a cleanup effort by the IRS to ensure that everyone gets the money they were entitled to during the pandemic.
The federal government issued three rounds of stimulus checks to help Americans during the COVID-19 crisis, but some people didn’t get their full amount due to processing errors or other issues.
By sending out these payments automatically, the IRS is trying to make up for those missed amounts without requiring people to take additional action.
What Should You Do Next?
If you’re wondering whether you’re eligible, here’s what you can do:
- Check Your Mailbox: The IRS will send letters to eligible individuals. This letter will confirm that you’re getting a payment and how much to expect.
- Monitor Your Bank Account: Payments may come as a direct deposit. Look for any unexpected deposits from the IRS.
- Wait for January 2025: While many payments are already being sent, some will still go out in January.
If you believe you missed out on stimulus money but don’t receive a letter or payment, you may need to contact the IRS for clarification.
Final Thoughts
This new round of payments is a great opportunity for those who missed out on their full stimulus payouts during the pandemic. With up to $1,400 available per person, it’s worth keeping an eye out for your payment.
The process is simple and automatic, so there’s no need to stress over filing additional paperwork. Just stay alert, watch your mail, and check your accounts. A little extra money could be on its way to you soon!
Note- Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If any error is identified we promptly correct it and strive for transparency in all updates.
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.
