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IRS Stimulus Check 2025 Update: Secure Your Final Payments Now!
The Internal Revenue Service (IRS) has announced the final round of stimulus checks for 2025, marking the end of a significant COVID-era financial support program. These final payments are being sent to approximately one million taxpayers who did not claim the 2021 Recovery Rebate Credit on their tax returns. The IRS expects these payments to arrive by late January 2025.
Why Are These Payments Being Sent Out?
The Recovery Rebate Credit was created to provide financial support during the COVID-19 pandemic for individuals who missed or did not receive the full amount of their Economic Impact Payments (stimulus checks). IRS Commissioner Danny Werfel stated, “Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible.” To minimize headaches and get this money to eligible taxpayers, the IRS is making these payments automatic, meaning recipients do not need to file an amended return.
How Are These Payments Being Disbursed?
The payments, which can reach up to $1,400 per individual, will be sent via direct deposit or as a paper check to the address or bank account listed on the recipient’s 2023 tax return. Recipients will receive notification letters regarding their payments. If a taxpayer’s bank account information has changed, the funds will be sent as a check to the updated address on record.
Eligibility and Deadlines
Individuals who did not file a 2021 tax return but suspect they are eligible have until April 15, 2025, to file and claim the credit. The IRS advises taxpayers to verify their eligibility by utilizing online resources or consulting the credit guidelines available on the IRS website. If you are eligible for a payment and filed a 2021 return, you don’t need to do anything. The payments are automatic.
Additional Information for Taxpayers
1. Income Thresholds: The full credit amount is available to individual taxpayers with up to $75,000 in adjusted gross income and to married couples who file jointly with up to $150,000 for 2021. The credit starts to decrease for incomes exceeding these limits and is completely eliminated for individuals with an adjusted gross income of $80,000 or more and for married couples with $160,000 or more.
2. Family Payments: A family of four, including a married couple and two qualifying dependents claimed on their tax returns, may receive up to $5,600.
3. Verification: Taxpayers can check if they claimed the Recovery Rebate Credit by looking at their 2021 tax return and checking if they left the Recovery Rebate Credit field blank or filled it out as $0. They can also use the IRS Online Account to view their tax records.
4. IRS Outreach: The IRS has committed to further outreach during the 2025 tax season to ensure individuals understand other available benefits, such as the Earned Income Tax Credit and other pandemic-related tax relief.
Conclusion
This final round of payments marks the conclusion of pandemic-related financial aid, providing a last chance for eligible individuals to claim their outstanding stimulus funds.. The IRS will continue their outreach efforts throughout the 2025 tax season to help individuals comprehend additional benefits available to them, including the Earned Income Tax Credit and other pandemic-related tax relief.
Also Check : Stimulus Check 2025