Economic Impact Payment revisited

[jklcpa]

As I heard on msm tv today, IRS has determined that about 1 million people that were entitled to the third EIP did not claim or receive the payment of up to $1,400. The article below say IRS is making the payments automatically to the bank account it has on file or to the address of record if direct deposit information isn't available or if that method fails.  Anyone who hasn't actually filed their 2021 return should do so by 4/15/25 to claim any portion of the EIP they may be due.

https://www.cnn.com/2024/12/24/business/irs-tax-payments-recovery-rebate-credit/index.html

 

[BulldogTom]

1 hour ago, jklcpa said:

As I heard on msm tv today, IRS has determined that about 1 million people that were entitled to the third EIP did not claim or receive the payment of up to $1,400. The article below say IRS is making the payments automatically to the bank account it has on file or to the address of record if direct deposit information isn't available or if that method fails.  Anyone who hasn't actually filed their 2021 return should do so by 4/15/25 to claim any portion of the EIP they may be due.

https://www.cnn.com/2024/12/24/business/irs-tax-payments-recovery-rebate-credit/index.html

 

What could go wrong with this plan?????

Tom
Longview, TX

[jklcpa]

1 hour ago, BulldogTom said:

What could go wrong with this plan?????

Tom
Longview, TX

The first thing is that the anchor that presented this did not tell viewers that IRS would be sending payments automatically, and I really don't want to have to waste time on questions and conversations again to prove that they already got it and aren't entitled to more!

[BulldogTom]

12 hours ago, jklcpa said:

I really don't want to have to waste time on questions and conversations again to prove that they already got it and aren't entitled to more!

^^^^^^ Yep.   I can see a lot of calls coming regarding the additional payment everyone is getting and when will mine come.....

Tom
Longview, TX

[mcb39]

Ironic...I have a 2021 return lying on my desk to be prepared next.

[schirallicpa]

Wait til we can efile again? or inundate the IRS with paper filed amended returns?.......hmmmmm  I have had a client call this morning. We did miss the extra refund on his return.  But we had a note in the file that he said he had received it.  No paperwork though.  Now - he says he didn't.  Why IRS?  Why?

[TAXMAN]

I have had 5 calls already: Am I getting more money? Yikes

[Lee B]

Per IR 2024-314:

"No action is needed for eligible taxpayers to receive these payments, which will go out automatically in December and should arrive in most cases by late January 2025. The payments will be automatically direct deposited or sent by paper check; eligible taxpayers will also receive a separate letter notifying them of the payment."