$1400 IRS Stimulus Payment Status: If you are one of those Americans who filed their tax returns in 2021 but forgot to claim the Recovery Rebate Credit, then now is a golden opportunity for you. The IRS (Internal Revenue Service) has recently announced that they are going to make payments to those who filed their tax returns in 2021 but did not take advantage of this important credit. Under this scheme, about 1 million taxpayers across the US will be paid, including about 20,000 families from Arizona in particular.
The IRS has clarified in its press release that many taxpayers filed returns but forgot to claim the Recovery Rebate Credit or could not fill it correctly. Now the IRS is ensuring that this amount will be automatically provided to eligible taxpayers, and under this process the stimulus payment will reach the accounts of all those who are eligible by the end of this month.
$1400 IRS Stimulus payment overview
| Information | Details |
| Maximum Payment | $1,400 |
| Total Payment Amount | $2.4 billion |
| Eligibility Income Limit | $75,000 (Single), $112,500 (Head of Household), $150,000 (Joint Filers) |
| Maximum Income Limit (No Credit) | $80,000 (Single), $120,000 (Head of Household), $160,000 (Joint Filers) |
| Payment Method | Paper check or direct deposit into bank account |
| Deadline for Filing Return | 15 April 2025 |
| Payment Start Date | End of December |
| Final Payment Receipt Date | End of January |
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Who can be eligible under this IRS Stimulus payment scheme?
The IRS has tried to make this scheme quite simple so that more and more people can take advantage of it, but it has also been made clear that not everyone can take advantage of this scheme. Under this scheme, most taxpayers are eligible, although those who fall in the higher income group may be deprived of this benefit.
Eligibility Criteria
You must have filed your 2021 tax return
- If you have filed your tax return in 2021 but “forgot” to claim the Recovery Rebate Credit, then congratulations! You may be eligible for this scheme.
- You must have already received the third Economic Impact Payment
- If you have already received the third Economic Impact Payment, then now its amount will be deducted from the new credit. That is, you will get a new bonus after deducting the amount you have received.
Be within income limits
Your Adjusted Gross Income (AGI) must be within certain limits:
- $75,000 or less (single filers)
- $112,500 or less (head of household)
- $150,000 or less (married filing jointly)
Not above the maximum income limits
If your income is above the following limits, you will lose this credit:
- $80,000 (singles)
- $120,000 (head of household)
- $160,000 (joint filers)
The Recovery Rebate Credit field is left blank or filled with $0
- If you left the Recovery Rebate Credit section blank or entered $0 on your 2021 tax form, the IRS is ready to send you this special payment.
Didn’t file a 2021 tax return? Don’t worry!
- If you “forgot” to file your 2021 tax return, you can still file it by April 15, 2025 and claim this credit.
So if you meet these “hard” conditions, you too may be entitled to this special payment from the IRS!
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How much money will be received, and by when will this amount be received?
The IRS has also stated that eligible taxpayers can receive a maximum amount of up to $1,400 under this scheme. In total, an amount of $2.4 billion will be distributed among those who forgot to claim this credit.
It is also a relief for eligible taxpayers that they will not have to take any additional action to get this amount, as this payment will be made completely automatically. The IRS has made it clear that the payment process will start at the end of December and in most cases, this amount will reach the eligible people by the end of January.
How will you get this $1400 IRS Stimulus payment, and what do you have to do?
If you are eligible for this scheme, then you do not need to do anything, as the IRS will automatically make this payment. This payment will be sent either through a paper check or will be deposited directly into the bank account that you provided in your 2023 tax return.
The IRS is also making sure that eligible taxpayers will be notified through a separate letter so that they can know that they are being paid. This letter will also tell them how and when the payment will be made.
What if you did not file a 2021 tax return?
If you are one of those who have not filed a 2021 tax return, you still have an opportunity to get this credit. The IRS has said that you can file tax returns of previous years till April 15, 2025 and claim this credit. This will be the last chance when you can be eligible for this credit and any other refund that you have missed.
Who is eligible for the special payment?
People who have filled $0 in the Recovery Rebate Credit field in the 2021 tax form or have left that section blank are eligible for this special payment. The IRS itself will decide who is eligible for this payment.
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conclusion
In this article, all the important information related to Recovery Rebate Credit has been told to you in a simple and detailed manner, so that you can easily understand the whole process and get your benefits in time.
If you think that you are eligible for this credit, then just wait and wait for this amount to come in your bank account. The IRS has ensured that this process is made easy and transparent so that no eligible person faces any difficulty in taking advantage of it.
