According to the IRS, this round of stimulus checks was established after the agency reviewed internal data showing that many eligible taxpayers who filed a 2021 tax return did not claim the Recovery Rebate Credit, a refundable credit for individual who didn't receive one or more Economic Impact Payments, more commonly known as stimulus payments.
According to the IRS, eligible taxpayers do not need to do anything to receive the stimulus payments, which went out automatically in December and should arrive by late January this year.
The IRS has revealed it will be sending out a new wave of stimulus payments worth $2.4 billion to approximately one million Americans who may have missed out on earlier payments.