If you are still waiting on your stimulus check, action is needed asap!
Payments were sent to Americans that had the necessary information on file at the IRS, but there are still more eligible Americans who “did not yet receive their payments, and need to take action,” according to the Treasury’s press release.
So far, $267 billion in payments have been issued, with the average amount totaling $1,680. Of the distributed 159 million stimulus payments, 120 million were sent via direct deposit, 35 million by paper check, and 3.7 million by prepaid debit cards.
As part of the $2.2 trillion stimulus package, $250 billion is being distributed to Americans’ wallets to help them financially manage job loss, reduced work hours, and other money hardships they’re facing. About 175 million Americans are eligible for the payments, according to the White House.
What should I do if I didn’t get a check?
If you don’t file taxes and you haven’t received a stimulus check, you can submit your information through IRS Non-Filers Tool by Oct. 15 to get your payment. Americans with income below $12,200 and who haven’t filed a tax return for 2018 and 2019 can use the tool to add basic personal information in order to receive the payment.
Those who pay taxes and believe they’re eligible for a stimulus payment but didn’t receive one will be able to claim it when they file their tax returns for 2020. For those who want their payment quicker, try calling the IRS Economic Impact Payment line at 800-919-9835.
What if I got the incorrect amount?
If you didn’t receive the full amount of the stimulus payment that you were entitled to, you will be able to claim the additional amount on your 2020 tax return. The payment amount is based on the information you have provided on your 2019 tax return, if it has been submitted or processed. Otherwise, the size of your payment is based on your 2018 taxes.
Those who didn’t receive the additional $500-per-child bonus will also be able to claim the additional amount when they file their 2020 tax return.
What would a second round of stimulus checks look like?
The House recently passed another coronavirus relief package, dubbed the HEROES Act, that would provide up to $1,200 per individual with a maximum amount of $6,000 per household.
Similar to the first stimulus payments, single adults with income up to $75,000 will get the full $1,200 payment. Married couples with income up to $150,000 will get $2,400. Single parents who file as head of household with income up to $112,500 will get the full $1,200 check.
The new bill also gives Americans $1,200 for each dependent for up to three dependents. In the first wave of stimulus checks, there was an additional $500 per child dependent, with no limits.
Under this legislation, taxpayers would receive the dependent bonus for any dependent they claimed on their tax return may be eligible. The first stimulus bill provided the additional $500 payment only to dependents aged 16 or under.
When are you getting the stimulus payment?
This week, the IRS starts sending paper checks on a weekly basis to individuals whose direct deposit information isn’t on file.
Paper checks will be issued at a rate of about 5 million per week. The latest projection is that the paper check will be delivered through late May and into June, according to a statement by the IRS.
How can those who don’t file taxes get a stimulus payment?
“There are as many as 10 million Americans who are not required to file a tax return,” TurboTax said in a statement. “Because the IRS will use the federal tax return to determine and send individual stimulus payments, these individuals are at risk of not receiving their stimulus payment.”
The tools will use the information to file and automatically complete a Form 1040 and send it to the IRS.
They’ll also help determine if you’re eligible for the stimulus payment. If eligible, you need to answer a few questions, provide the required information, and choose whether to get the payment through direct deposit or check. If you don’t provide direct deposit information, the check will be mailed to you.
Social Security recipients and those required to file tax returns don’t need to provide additional information, but still must meet the eligibility criteria to get a payment.
Who can help me with my stimulus check questions?
The IRS recently added 3,500 telephone representatives who can answer questions about the stimulus payment. The phone number to call is (800) 919-9835.
At first, the service will attempt to answer the caller’s question with an automated message. Those who need additional assistance have the option to talk a representative after they go through the automated messages, according to the IRS.
Still, the service, among others, will “remain limited,” the IRS said in a press release. “The IRS anticipates bringing back additional assistors as state and local advisories permit.”
The agency also has an FAQ page on its website that addresses many questions about the stimulus check payments.