IRS Surprise: 1 Million Taxpayers to Receive Special Payments This Month

The Internal Revenue Service (IRS) has announced that it will be issuing special payments to approximately 1 million taxpayers this month. This unexpected move is expected to bring relief to many individuals and families who have been affected by the ongoing pandemic and economic uncertainty. In this article, we will delve into the details of these special payments, who is eligible, and what taxpayers can expect.

What are these special payments?

The special payments are part of the IRS's effort to refund taxes owed to taxpayers who have been affected by the pandemic. The payments are primarily aimed at individuals and families who have claimed the Earned Income Tax Credit (EITC) or the Child Tax Credit. These credits are designed to help low-to-moderate income working individuals and families with children.

Who is eligible for these special payments?

To be eligible for these special payments, taxpayers must have filed their tax returns for the 2020 tax year and claimed the EITC or Child Tax Credit. Additionally, taxpayers must have had their tax refunds delayed due to the pandemic. The IRS has identified approximately 1 million taxpayers who meet these criteria and will be receiving special payments this month.

How much can taxpayers expect to receive?

The amount of the special payment will vary depending on the individual's circumstances. The IRS will be issuing refunds ranging from a few hundred to several thousand dollars. Taxpayers who are eligible for these payments can expect to receive a check or direct deposit from the IRS in the coming weeks.

What do taxpayers need to do to receive their special payment?

Taxpayers do not need to take any action to receive their special payment. The IRS will automatically issue the payments to eligible taxpayers. However, taxpayers can check the status of their payment by visiting the IRS website or contacting the IRS directly.

Other tax relief options available

In addition to these special payments, the IRS is offering other tax relief options to help taxpayers affected by the pandemic. These include: tax transcript requests online account access payment plans and installment agreements The IRS's announcement of special payments to 1 million taxpayers is welcome news for many individuals and families who have been struggling financially. These payments are a reminder that the IRS is committed to supporting taxpayers during difficult times. If you are eligible for a special payment, you can expect to receive it in the coming weeks. Remember to stay informed about other tax relief options available to you, and don't hesitate to reach out to the IRS if you have any questions or concerns.

This article is for informational purposes only and should not be considered tax advice. For specific tax guidance, please consult a tax professional or the IRS directly.

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