Economic Impact Payments 2025 . Social Security Stimulus Checks 2024 Update Alexi Austina The Internal Revenue Service announced in December that it would. The Recovery Rebate Credit is a "refundable credit for individuals who did not receive one or more Economic Impact Payments also known as stimulus payments," said the IRS.
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Each payment, officially known as Economic Impact Payments (EIP), is worth up to $1,400 "Eligible taxpayers who did not file must file a tax return to claim a Recovery Rebate Credit, even if their income from a job.
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