The IRS is sending automatic payments to taxpayers who missed claiming the pandemic-era recovery rebate credit.
The Internal Revenue Service (IRS) has announced that around $2.4 billion worth of automatic payments will be sent out later in December to taxpayers who were eligible for a pandemic-era tax break but didn’t claim the COVID cash.
The recovery rebate credit is a refundable credit for taxpayers who did not receive one or more Economic Impact Payments, also known as stimulus payments or stimulus checks. It can reduce the amount of taxes owed, increase a tax refund, or result in a direct payment from the IRS to eligible taxpayers.
“Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible,” IRS Commissioner Danny Werfel said in a statement.
Qualified recipients include taxpayers who filed a 2021 tax return and either left the recovery rebate credit…
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