Special Payment of $1400 to Qualifying Taxpayers at the End of This December is Already Official

$1,400 is not handed out every day, and when economic worries enter American households, any financial support is seen as a light at the end of the tunnel, bringing with it a ray of hope. This is the case of the special $1,400 stimulus check. In addition, now that we are in a time of inflation where life only gets more expensive, the Internal Revenue Service (IRS) has come to tell us this surprise. If you are wondering how to not miss this opportunity, we will tell you below!

What is a stimulus check?

They are called that because they are money deliveries made by the Tax Administration, or the IRS, with the aim of stimulating and energizing the economy. We explain how, wait. By “injecting” money into consumers, they will spend it on local goods and services, which will keep the economy turning or creating a so-called “domino effect” (a small act that triggers other acts, in this case, all economically beneficial!)

Now, tell me about this $1,400 check.

Approximately 1 million taxpayers will receive this special payment at the end of this month, it comes as a year-end gift, and this check, which is funded by federal funds, will be received by those people who did not claim their stimulus check in the 2021 tax return, so, these people who did not claim the EIP (Economic Impact Payments) during the pandemic years, will see that they automatically arrive in their bank account.

The IRS, through Dani Werfel, has reported in a statement that they are making these payments automatically to the taxpayers to whom these payments belonged, so this means that if you are a beneficiary of this check you will not have to do anything (not even file an amended return) to see this money in your account. Why? Because the IRS already has the internal data for the 2021 returns, and those who overlooked claiming this credit will now get this money, that almost fell from the sky.

How do I know if I’m eligible for this payment?

If you’re wondering how to request this check, you should be aware that most people who are eligible for this payment have already received it! However, the IRS clarifies that there is still a group of people who left the “data for the recovery rebate credit” box blank or filled it in as $0, when they were eligible for this credit.

So, no, you don’t have to do anything because, as we just told you, this payment will go directly to your bank account automatically. Be careful! It will go to the bank account you put on your 2023 return (although there is also the possibility that it will arrive as a check by mail at the end of January 2025 to the address that the IRS has on file in your name)

How will they inform me that I am eligible for this payment?

The IRS has sent a notification to eligible taxpayers via a letter in which it has published what has happened and the amount that each user is entitled to, so that the maximum amount for this payment will be $1,400. So, if you have been chosen for this check, it is most likely that you have received the letter or that it is about to arrive.

This money may not seem like much, but for families who have a little more trouble making ends meet, it will be a gift to see their bank account increase by at least $1,000! Especially now, when we find ourselves in a critical economic situation where inflation continues to rise, and even more so now, in the times we are in, where between one thing and another, our money is spent on food and gifts.

So, let’s take this payment as a year-end gift. Congratulations to the beneficiaries!