A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?
India TodayApproximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the Internal Revenue Service in the coming weeks. The IRS said it’s distributing about $2.4 billion to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns. The special payments announced by the IRS are being sent to those taxpayers who filed a 2021 tax return but left the data field for the Recovery Rebate Credit blank or they filled it out as $0 when they were actually eligible for the credit. In December 2020, eligible individuals received up to $600 per income tax filer and $600 per child under the Consolidated Appropriations Act. In March 2021, eligible individuals received up to $1,400 per income tax filer and $1,400 per child under the American Rescue Plan Act.
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A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?
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