The Internal Revenue Service will send $1,400 to about 1 million taxpayers in January after a review of its records.
The IRS said it discovered many eligible taxpayers who had failed to claim a Recovery Rebate Credit on their 2021 tax returns. People who had missed one of two COVID stimulus payments or had received less than the full amount were eligible to claim the credit.
The IRS said that although it will distribute $2.4 billion total, most people who were eligible for the funds have already received them. A notice will be sent to those who are receiving the funds and the funds will be distributed electronically or via paper check with information already on file for the taxpayer. Taxpayers do not need to take any action.
The money will be directly deposited into eligible people’s bank accounts or sent in the mail by a paper check.
