Although payments will differ, each person may receive up to $1,400. Details regarding eligibility and the calculation of the payment have been made available online by the IRS.
Eligible taxpayers will get separate letters from the IRS informing them of the special payment. The money may still be available to you.
However, the IRS states that even if a taxpayer’s income from a job, business, or other source was little or nonexistent.
They still need to file a tax return and claim the Recovery Rebate Credit before the deadline of April 15, 2025.
The $814 billion was distributed in three stages to homes affected by the pandemic. The amounts that people received were determined.
By the IRS based on their income, tax filing status, and the number of qualified dependents or children they had.
