The IRS is distributing about $2.4 billion to taxpayers who didn’t receive their COVID stimulus payments. By the end of January, approximately 1 million taxpayers will receive special payments of up to $1,400 from the IRS.

The exact amount of the payment will vary but maximum is $1,400 per individual. The total amount distributed by the IRS is $2.4 billion. You could still be eligible for a payment even if you don’t receive one this month.

The IRS announced eligible U.S. taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax return are in line to receive a stimulus check.

According to a press release from the IRS, about $2.4 billion was expected to be distributed in December, and in most cases, the payments would arrive by late January 2025 to the bank account listed on the taxpayer’s 2023 tax return or to the address on record.

The IRS is set to send out $2.4 billion in stimulus payments to eligible US taxpayers by late January. These payments, issued via direct deposit or paper checks, are targeted at individuals who missed claiming the Recovery Rebate Credit on their 2021 tax returns.