The Internal Revenue Service (IRS) is preparing to distribute the final round of $1,400 stimulus checks in January 2025. This initiative aims to assist eligible taxpayers who missed out on the Recovery Rebate Credit during the pandemic, providing much-needed financial support to approximately one million Americans.
Key Takeaways
- Final $1,400 stimulus checks will be distributed in late January 2025.
- Payments target individuals who did not claim the Recovery Rebate Credit on their 2021 tax returns.
- The IRS will automatically send payments, eliminating the need for amended returns.
- Eligible individuals can receive up to $1,400, with married couples potentially receiving $2,800.
Background On The Stimulus Checks
The $1,400 stimulus checks are part of the federal government’s efforts to provide financial relief during the COVID-19 pandemic. The Recovery Rebate Credit was designed for individuals who either did not receive or did not claim the full amount of their Economic Impact Payments (stimulus checks) in previous rounds.
Who Is Eligible?
To qualify for the final $1,400 payment, individuals must meet the following criteria:
- Individuals with an Adjusted Gross Income (AGI) of $75,000 or less.
- Married couples filing jointly with an AGI of $150,000 or less.
- Heads of household with an AGI of $112,500 or less.
- Individuals who did not receive the full stimulus amount in previous payments.
Payment Distribution Process
The IRS has announced that these payments will be sent automatically, with disbursements expected to begin in December 2024 and conclude by late January 2025. Payments will be issued via direct deposit or as paper checks, depending on the information provided on the recipient’s 2023 tax return.
- Direct Deposit: Funds will be deposited into the bank account listed on the tax return.
- Paper Checks: If a taxpayer’s bank account has changed, the payment will be sent as a check to the updated address on file.
Important Dates
- Payment Start Date: Late January 2025.
- Deadline for 2021 Tax Return: April 15, 2025, for those who have not yet filed but believe they are eligible for the credit.
IRS Outreach Efforts
The IRS is committed to ensuring that all eligible taxpayers receive the financial support they are entitled to. As part of this initiative, the agency will enhance its outreach efforts during the 2025 tax season to raise awareness about other available benefits, such as the Earned Income Tax Credit.
Conclusion
This final round of $1,400 stimulus checks marks the conclusion of the federal government’s COVID-19 relief efforts, providing one last opportunity for eligible individuals to access unclaimed financial support. The IRS’s automatic payment process aims to simplify the distribution and ensure that funds reach those who need them most.
Sources
- IRS $1,400 stimulus checks: last automatic payments, late Jan – Fast Company, Fast Company.
- IRS Sending Final $1,400 Stimulus Checks in Late January – Will You Still Get PFD Payments? – LKO Uniexam.in, LKO Uniexam.in.
- IRS to distribute $1,400 stimulus checks to eligible taxpayers in 2025, MSN.
- Final IRS $1,400 Stimulus Checks of 2025 Are Here—Covid-Era Relief Wraps Up, MSN.
- $2600 Stimulus Checks 2025: Stimulus Check for Everyone? Eligibility & Payment Dates, Sirdup.
