Since the first stimulus checks were issued during the pandemic, rumors of new payments have persisted.
It turns out the rumors were true. Sort of.
No, it is not an entirely new round of stimulus, but payments are scheduled to be made to Americans beginning in December and continuing through January, according to the IRS.
So, what gives?
According to the IRS, one million Americans are set to receive $2.4 billion in payouts.
According to CBS, the IRS plans to send out “special payments” to people who did not receive all of their federal stimulus money back during the pandemic.
“To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, which means they won’t have to go through the lengthy process of filing an emended return to receive it,” IRS Commissioner Danny Werfel said in a statement, according to CBS.
The IRS said the payments “will vary by person,” but the maximum set to be paid out is $1,400.
And how will you know if you are one of the million people who did not receive the full amount promised to them during the three rounds of stimulus payments?
According to CBS, the IRS plans to send letters to recipients informing them that their payment is on its way. According to the website, the majority of the payments will be made in December, with the majority completed by late January 2025.
So, if you think you didn’t receive all of your stimulus funds, you might be correct. So, keep an eye out for an IRS letter or, potentially, a check in the mail, as well as a direct deposit in your bank account.
An extra $1,400 could be on its way.
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