Wednesday, January 22, 2025

IRS distributes unclaimed stimulus checks to eligible Americans: See if you qualify

Money & Market

 


The Internal Revenue Service (IRS) has begun distributing unclaimed stimulus checks to eligible individuals who missed out on previous rounds of financial relief.

This move is part of the ongoing effort to ensure that all Americans who qualify for the government’s pandemic stimulus payments receive the funds they are owed.

Millions of Americans were initially sent stimulus checks during the height of the COVID-19 pandemic, but some individuals either didn’t receive their payments or failed to claim them. The IRS has since identified these unclaimed stimulus checks and is now issuing payments to those who missed out, provided they meet eligibility criteria.

Who Qualifies for the Unclaimed Stimulus Checks?

The IRS has outlined specific requirements for individuals to qualify for the unclaimed stimulus checks. The following groups are eligible to receive payments:

  1. U.S. Citizens and Legal Residents – Only U.S. citizens and legal residents who meet the income criteria are eligible for the stimulus checks.
  2. Individuals Who Have Not Filed a Tax Return – Some individuals who do not typically file a tax return, such as seniors, low-income workers, or people with disabilities, may still qualify for a stimulus check. The IRS encourages these individuals to file a 2020 or 2021 tax return, even if they are not required to do so, to claim the funds.
  3. Income Limits – For each round of stimulus checks, individuals with a certain income threshold qualify. For example, for the third round of payments, single filers earning less than $75,000 annually, or married couples earning less than $150,000, are generally eligible to receive the full amount. Those with higher incomes may still qualify for partial payments based on a sliding scale.
  4. Dependents – Taxpayers with qualifying dependents may also be eligible for additional funds. Each dependent under the age of 17 can increase the stimulus payment.
  5. Recovery Rebate Credit – Individuals who did not receive the full amount of stimulus payments they were eligible for may be able to claim the Recovery Rebate Credit when filing their tax returns. This credit allows taxpayers to claim any unclaimed stimulus payments from previous rounds.

The IRS’s distribution of unclaimed stimulus checks is an important step in addressing the financial challenges that many Americans faced during the pandemic. Those who did not receive the full amount they were eligible for are encouraged to check their IRS records and file a recovery rebate credit on their tax return if necessary. The recovery rebate credit allows individuals to claim any missing funds from earlier stimulus rounds.

“The IRS is committed to ensuring that all eligible individuals receive the stimulus payments they are entitled to,” said an IRS spokesperson. “This new distribution of unclaimed stimulus checks will help address situations where payments were delayed, or individuals were unaware they were eligible.”

How to Claim Your Payment

To facilitate the distribution, the IRS is using taxpayer records to identify those who have not yet received their stimulus payments. The agency is also working closely with financial institutions and other partners to ensure that the unclaimed stimulus checks reach recipients in a timely manner.

Taxpayers who believe they may be eligible for a payment but have not yet received it are advised to visit the IRS website to check the status of their unclaimed stimulus checks. They can also use the IRS’s “Get My Payment” tool to track the status of their payments and verify whether they are eligible for any outstanding funds.

In addition to this distribution, the IRS continues to provide resources for individuals who have questions or concerns about their payments. With a surge in tax-related queries, the agency has emphasized the importance of reviewing IRS notices and seeking professional advice if needed.

The distribution of unclaimed stimulus checks underscores the ongoing efforts by the government to provide financial support to those most affected by the economic fallout of the pandemic. For many Americans, these payments are crucial in helping to recover from the financial strain caused by job losses, business closures, and other challenges.

As the IRS works to ensure all eligible individuals receive their unclaimed stimulus checks, it’s important for Americans to stay informed about the process and ensure they take the necessary steps to claim what they are owed.

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