The IRS is issuing $1,400 stimulus payments to approximately 1 million taxpayers who missed claiming the Recovery Rebate Credit on their 2021 tax returns. Eligible individuals include those with incomes up to $75,000 (single filers), $150,000 (married couples), and $112,500 (heads of household). Payments are phased out for higher incomes, and the maximum eligibility threshold is $80,000 for singles and $160,000 for joint filers.
The payments aim to ensure that eligible individuals receive the relief they missed during the pandemic. The funds will be directly deposited or sent as paper checks. If you didn’t file a 2021 return or think you’re eligible but didn’t receive payment, you can still claim the credit by filing by April 15, 2025.
