The Biden-Harris administration’s Internal Revenue Service has given the green light for about $2.4 billion in automatic stimulus payments to be sent to eligible Americans by late January.
The IRS is issuing payments to Americans who did not claim the Recovery Rebate Credit on their 2021 tax returns and did not receive economic stimulus payments provided during the coronavirus pandemic. According to From a press release on December 20th. The spending announcement comes with just a few weeks left in President Joe Biden’s term.
Payment amounts vary, but the maximum payment is $1,400 per person. I.R.S. announced The first round of automatic stimulus checks for March 2020 was paid through the following month. (Related article: Lame-duck Biden imposes new sanctions on Russia now that energy prices and escalating war in Ukraine do not harm democracy)
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“These payments are an example of our commitment to doing our best for taxpayers,” IRS Commissioner Danny Wuerffel said in a press release. “When we looked at our internal data, we found that 1 million taxpayers missed out on claiming this complex deduction when they were actually eligible. To limit the amount of money available and get this money to eligible taxpayers, we are automating these payments, which means a massive process for these people to file an amended return to receive it. There is no need to go through
The coronavirus disease (COVID-19) outbreak caused businesses to close across the United States throughout 2020, dealing a major blow to then-President Donald Trump’s economy. By June 2021, 6.2 million people had reduced hours or did not work at all due to business closures during the pandemic. From 49.8 million people in May 2020, according to the Bureau of Labor Statistics reported. To promote economic recovery and support the American people, the U.S. government is $931 billion raised in individual stimulus payment checks.
Biden also signed the $1.9 trillion American Rescue Plan in March 2021, which allocates funds to schools, businesses and individuals. The president has previously blamed inflation on high prices tied to the government’s coronavirus stimulus package.
Despite several pandemic-related relief efforts also being ripe for multibillion-dollar fraud, the IRS’s latest effort has left nearly 1 million eligible people still without payments or rebates in nearly five years. It will send additional blank checks to Americans. After the first stimulus checks are delivered.
The IRS referred the Daily Caller News Foundation to its press release for comment.
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