The IRS is rolling out billions in stimulus payments this February to ensure Americans who missed out on their pandemic stimulus checks get their full benefit.
If you were eligible but didn’t claim the Recovery Rebate Credit in 2021, you might have money coming your way. Here’s everything you need to know.
Eligibility
The IRS is issuing around $2.4 billion in automatic payments to about 1 million individuals. These payments are for those who were eligible for the Recovery Rebate Credit but didn’t claim it when filing their 2021 tax return.
If you missed out on any of the three stimulus checks from 2020 and 2021, you could still receive your money now. Here’s who qualifies:
- Individuals who filed a 2021 tax return but didn’t claim the Recovery Rebate Credit.
- Those earning up to $75,000 per year ($150,000 for married couples).
- Payments phase out completely for incomes above $80,000 for individuals and $160,000 for couples.
Payment Amount
The amount you receive depends on your filing status and the number of dependents you claimed. Here’s a breakdown:
| Filing Status | Maximum Payment | Income Phase-Out Begins | Phase-Out Complete |
|---|---|---|---|
| Individual | $1,400 | $75,000 | $80,000 |
| Married Couple | $2,800 | $150,000 | $160,000 |
| Family of Four | $5,600 | Varies | Varies |
If you have dependents, your total payment increases based on the number of qualifying children.
How to Receive
The best part? No action is needed to get your payment. The IRS is sending them out automatically. Here’s how you’ll receive it:
- Direct deposit to the bank account listed on your 2023 tax return.
- Paper check mailed to the address the IRS has on file.
Payments are expected to arrive by late January or early February 2025. The IRS will also send a confirmation letter detailing the payment amount and method.
Don’t Receive the Check
If you believe you should have received a payment but didn’t, follow these steps:
- Check eligibility – Ensure you qualify based on income and past filings.
- File your 2021 tax return (if you haven’t yet) before April 15, 2025 to claim the Recovery Rebate Credit.
- Watch for IRS updates on missing payments.
If you file your 2021 tax return late, the stimulus amount may come as a refund or direct deposit instead.
Payments
In addition to unclaimed stimulus checks, the Social Security Administration will issue another round of payments in February. These monthly payments help:
- Retirees
- Individuals with disabilities
- Low-income individuals
Thanks to a 2.5% cost-of-living adjustment (COLA), these payments will be slightly higher than last year.
FAQs
Who qualifies for the stimulus check?
Anyone who missed claiming the Recovery Rebate Credit on their 2021 tax return.
How much will I receive?
Up to $1,400 per individual, $2,800 per couple, and more for dependents.
Do I need to apply?
No, the IRS is sending payments automatically.
When will I get my payment?
By late January or early February 2025.
What if I don’t receive my check?
Check eligibility, file your 2021 return, and monitor IRS updates.
