The IRS is sending $1,400 stimulus checks to 1 million taxpayers. How to tell if you qualify
Published On Dec 23, 2024, 3:43 PM
The IRS is issuing $1,400 stimulus checks to approximately 1 million taxpayers who did not receive the payment during the pandemic. The total amount allocated for these checks is $2.4 billion, and payments will be directly deposited or sent via paper checks depending on whether the IRS has the taxpayer's bank account information. Eligibility for the payments is based on income, marital status, and the number of dependents. The payments aim to support those who overlooked claiming the 2021 recovery rebate credit.
Stock Forecasts
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The issuance of additional stimulus checks may stimulate consumer spending, benefiting consumer-centric stocks. Retailers or businesses relying on direct consumer expenditure could see positive impacts as taxpayers receive additional cash.
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