IRS says 1 million taxpayers will get up to $1,400 rebate

The Internal Revenue Service (IRS) said around 1 million taxpayers will get up to $1,400 in a rebate in the coming weeks.

The automatic payments, which are set to go out later this month, will be sent out to taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.

After going through internal data, the IRS said it found many eligible taxpayers who filed a return but did not claim the available credit.

Taxpayers don’t need to take any extra steps; the payments will be automatically directly deposited or sent by paper check. They will go out in December, and the public should receive them by late January. According to the IRS, taxpayers will be notified about the payment via a separate letter.

The payments will vary based on several factors, but they will go up to $1,400. The total amount that will be sent out will be around $2.4 billion.

“The IRS continues to work hard to make improvements and help taxpayers,” IRS Commissioner Danny Werfel said in a Friday statement. “These payments are an example of our commitment to go the extra mile for taxpayers.”

Those who have not filed a 2021 tax return could also be eligible, but they have to file the return before an April 15 deadline.

The payment will be sent to a taxpayer’s bank account listed on their 2023 tax return or address of record, the IRS said.

"If the taxpayer closed their bank account since filing their 2023 tax return, taxpayers do not need to take any action,” the IRS wrote. “The bank will return the payment to the IRS and the refund will be reissued to the address of record.”

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