The Internal Revenue Service is sending out $2.4 billion in stimulus payments to approximately 1 million eligible taxpayers who didn't receive 2021 COVID recovery relief payments. The big picture: The special payments are as high as $1,

The IRS said it’s distributing these payments to taxpayers who failed to claim a Recovery Rebate Credit on their 2021 tax returns.

According to the IRS, about $2.4 billion was expected to be distributed in December, and in most cases, the payments would arrive by late January 2025.