The $1,400 stimulus check is part of an economic package approved during the Covid-19 pandemic by Joe Biden’s administration. This third check was intended to provide financial assistance to the families hardest hit by the health and economic crisis.
Although the majority of the payments were made in 2021, the IRS announced at the end of 2024 that some people still have not claimed their money.
Beginning January 2025, the IRS will automatically send payments to those who qualified but did not receive the appropriate amount. It is critical to note that this is not a new program or a fourth stimulus check, but rather a second chance for those who did not receive their payment due to errors, a lack of information, or administrative issues.
What is the $1,400 stimulus check?
Although the IRS is working to ensure that the money reaches those who qualify, some groups will be unable to receive it. Below, we explain the main reasons for exclusion.
You already received the full payment
If you received the third stimulus check in full at the time, you will not be eligible for this new payment. This process is only for those who did not claim their check or did not receive the full amount in 2021.
Errors in the Recovery Rebate Credit
The Recovery Rebate Credit was a valuable tool for people to claim stimulus checks that they did not receive on their 2021 tax returns. However, many people made errors when filling out this section, such as leaving it blank or incorrectly indicating that they did not qualify.
If your return was properly processed and you have already received the corresponding refund, you will not receive any additional payment.
Income above the allowed limit
This check is not available to all. Income limits are used to determine eligibility.
- Individual taxpayers: income over $75,000 per year do not qualify.
- Joint returns: the limit is $150,000 per year.
If your income is slightly higher than these limits, you may receive a lower amount. However, if you exceed these limits by a significant amount, you will not be eligible for any payment.
You did not file a tax return
Although the IRS can process some payments automatically, if you have not filed your 2021 tax return, you are most likely not in the system and will be excluded from the program.
How will the payments be sent?
The IRS will make payments to bank accounts listed on the 2023 tax returns automatically through direct deposit. If you do not have a registered bank account, you will receive a physical check in the mail.
To avoid delays or delivery issues, ensure that your tax information is up to date. If you have changed your address or bank account since then, please notify the IRS.
Why didn’t some people claim the check at the time?
The IRS has identified several reasons why many people did not claim their check at the time:
- Errors in the tax return: Leaving the Recovery Rebate Credit section blank was one of the most common mistakes.
- Misinformation: Some people mistakenly assumed they did not qualify or were completely unaware of the program.
- Administrative issues: Address changes or incorrect bank details also made it difficult for payments to be received on time.
What to do if you think you qualify, but do not receive the payment?
If you believe you meet the requirements but do not receive the payment by early 2025, contact the IRS. Remember that if your tax information has already been correctly registered, no additional procedures are required.
The $1,400 stimulus check provides a second chance to those who did not receive the money at the time. However, the eligibility criteria are clearly defined, and not everyone will be eligible to receive it.
If you meet the requirements, keep your tax information up to date to avoid issues or delays. Always check official sources for updates. This payment could provide significant financial relief, so don’t pass it up if you believe you are eligible for it.
Also See:- Three Stimulus Checks for This January: Don’t Miss Them
