Remember the Stimulus Checks?

[Sneakers]

We're not done yet! The IRS is sending $2.4 Billion to a million (!) people who didn't get the full stimulus amounts during the pandemic.

The tax agency said it's disbursing the funds after reviewing internal data that showed many people had filed tax returns but yet didn't claim what is known as the "recovery rebate credit" in 2021.

That credit was designed for people who didn't get all or some of the stimulus checks when they were issued during the pandemic. Lawmakers authorized three stimulus payments, with two sent in 2020 and a third in 2021.

Most taxpayers who were eligible for the stimulus payments have already received them directly, or later through the recovery rebate credit.

IRS sending payments of up to $1,400 to 1 million people. Here's who qualifies.

The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."

www.cbsnews.com

 

[Czar]

Make too much and you get the privileged of paying more in taxes and not receiving any stimulus checks. Redistribution of wealth-inflation creation at its finest.

 

[Kyle]

Make too much and you get the privileged of paying more in taxes and not receiving any stimulus checks. Redistribution of wealth-inflation creation at its finest.

yeah, I got the privilege of paying taxes for it and not getting a dime of it back.

 

[Czar]

yeah, I got the privilege of paying taxes for it and not getting a dime of it back.

If it's a stimulus, why penalized high income earners, especially when we are the ones actually paying the taxes?

 

[frequentflier]

We did not receive it when it was doled out but would probably "qualify" now. How does that work?

 

[Sneakers]

We did not receive it when it was doled out but would probably "qualify" now. How does that work?

In the past there was a space for it on your tax return. I used TurboTax and it asked you if you had gotten the checks. If not, it did the calcs to add it in.

 

[frequentflier]

In the past there was a space for it on your tax return. I used TurboTax and it asked you if you had gotten the checks. If not, it did the calcs to add it in.

We always had our taxes done because of my husband's overseas travel and have never used turbo tax.

I do recall my store receiving a gift from a customer and an offer of a gift from someone else that received stimulus money. That still means a lot to me today.

 

[Czar]

We did not receive it when it was doled out but would probably "qualify" now. How does that work?

I think it goes by the earnings of that particular year. Since you worked hard and earned "too much" as they see it, you would still be penalized.