IRS Sending Out $1,400 Special Payments To New Yorkers

The IRS confirmed that $2.4 billion in special payments are being sent out.

The IRS recently announced "special payments" to one million taxpayers.

IRS Sending Out Special Payments

In total, the IRS is sending out $2.4 billion in Economic Impact Payments (EIP), also known as stimulus payments.

The payments depend on several factors, but New Yorkers who qualify should expect payments up to $1,400.

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Who Is Eligible In New York?

Only New Yorkers who didn't receive the Recovery Rebate Credit in 2021. The Recovery Rebate Credit was a COVID recovery relief payment.

It is a refundable credit for individuals who did not receive one or more stimulus payments.

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The IRS is sending out these payments after reviewing internal data that showed many eligible taxpayers who filed a return but did not claim the credit.

"These payments are an example of our commitment to go the extra mile for taxpayers. Looking at our internal data, we realized that one million taxpayers overlooked claiming this complex credit when they were actually eligible," RS Commissioner Danny Werfel states.

How To Get Your Payment

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If you qualify, no action is needed. Payments have been mailed out and officials say you should receive them "by late January 2025."

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