The Irs Doesn’t Have Your Direct Deposit Info
The fastest way to get your stimulus check is via bank direct deposit from the IRS. If the IRS doesn’t have your direct deposit info on file, you can still get paid, but it’ll come via paper check â and getting a check in the mail could delay your payment by weeks or even months. Treasury Secretary Steve Mnuchin told CNN that it was his idea that paper check stimulus payments have President Donald Trump’s signature on them, and that reports saying that the signature would add further delay to the arrival of paper checks is incorrect.
“The checks have not gone out yet,” Mnuchin said to CNN’s Jake Tapper on Sunday, April 19, “and the reason they have not gone out yet is that we’re hoping that more people, as I said, will go to IRS.gov. It’s much safer to send out direct deposits.”
Most taxpayers provide the IRS with their bank account details, for the purposes of making a payment or receiving a tax refund. If the agency does not have your direct deposit details, you can provide the IRS with that information at the Get My Payment appâ which also lets you track the status of your check. However, the last day to give your direct deposit info to the IRS was May 13 if you missed the deadline, are eligible, and haven’t received your payment already, it will come as a paper check. You can still use the Get My Payment app to reveal how you will receive your payment , and give a scheduled arrival date, if the payment has been processed.
‘payment Status Not Available’: Why
The IRS says that millions of taxpayers have successfully used the new Get My Payment app to track their stimulus checks and, if needed, add their direct deposit information to get payment faster. So why are countless people complaining on social media that they entered their information at the app only to receive a frustrating “Payment Status Not Available” message?
In some cases, there could be glitches with the Get My Payment app itself that are preventing people from adding direct deposit information or finding out the expected date for their payments to arrive. Among other quirks, the system may give you a “Payment Status Not Available Message” if you owed $0 in taxes and received no refund on your most recent tax return, the Washington Post reported, because the IRS form gave an error message for people entering “0” in those corresponding spots.
The Get My Payment app went offline during certain late-night hours on Thursday, April 23, through Saturday, April 25, for “planned maintenance.” On April 26, the IRS announced “significant enhancements” to the app, though the agency did not specify which glitches had been fixed. “We urge people who havenât received a payment date yet to visit Get My Payment again for the latest information,” IRS Commissioner Chuck Rettig said in a statement. “IRS teams worked long hours to deliver Get My Payment in record time, and we will continue to make improvements to help Americans.”
I Need My Stimulus Check Money
Maybe youve found yourself in a position where you genuinely need your stimulus check funds. Perhaps your hours at work have been cut, or youve been laid off, and you need the stimulus money to make up for the loss of regular income.
If thats the case, we strongly encourage you to use it or save it for necessary living expenses. Pay your rent or mortgage paymentor at least part of it. Pay your utilities or use the money for groceries.
Or keep it in a savings account until next months rent or mortgage payment is due if you think youll be short on money later. I know this is a stressful time, and it might be tempting to buy something new and shiny with the cash.
But do yourself a favor and keep the money designated for necessary expenses. Its essential to pay your bills on time for several reasons.
First, paying your bills on time will help protect your credit score. Protecting your credit score isnt just important for borrowing purposes. Your credit score can be used to calculate insurance rates, and it could also be used to determine whether you get a job you apply for too.
Second, paying bills late often results in late payment fees. Plus, if you pay credit cards late, the credit card company could raise your interest rate also. And a higher interest rate on your credit cards means it could take longer to pay off your credit cards.
Some companies are tacking on interest charges and fees to those who are taking them up on payment forbearance.
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You Haven’t Filed Taxes For 2018 Or 2019
In most cases, the IRS determines whether someone is eligible for a stimulus check, and how much they’ll get, based on their most recent tax return â for 2019, or 2018 if the individual hasn’t filed yet this year. The deadline to file federal taxes has been pushed back from April 15 to July 15 this year, but nonetheless it may be in your best interest to file your taxes sooner than later.
People who have already filed their taxes do not have to do anything to get their checks. However, some people are not required to file taxes, and they could miss out on stimulus payments if they do not take action. Low-income earners â with gross income of $12,200 or less â do not need to file federal tax returns. For these people to receive a stimulus payment, they must register at the IRS’s “Non-Filers: Enter Payment Info Here” page.
If You Didnt Get The Full Economic Impact Payment You May Be Eligible To Claim The Recovery Rebate Credit
All first and second Economic Impact Payments have been sent. Check your final payment status in Get My Payment.
If you didnt get any payments or got less than the full amounts, you may qualify for the Recovery Rebate Credit and must file a 2020 tax return to claim the credit even if you dont normally file.
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Why You Get A ‘payment Status Not Available’ Message
You can use the Get My Payment app to find out the projected date when your deposit is scheduled to arrive in your bank account. The Get My Payment tool will also tell you if you’re set to receive payment by paper check, along with a scheduled arrival date in the mail. However, there could be several reasons why you can’t get a status update on your stimulus payment right now.
The IRS says that through midday on Wednesday, April 15, that over 6 million taxpayers had successfully found out their payment status through the new Get My Payment app. If instead, your inquiry resulted in a “Payment Status Not Available” message, the IRS says that this could be because:
- You are not eligible for a payment.
- You have not filed a tax return in tax year 2018 or 2019.
- You filed your tax return recently and it’s still being processed, or you provided information through Non-Filers: Enter Your Payment Info on IRS.gov.
- You receive Social Security, or are a RRB Form 1099 recipient, SSI or VA benefit recipient. Status updates for these recipients is not yet available through the Get My Payment app.
Here are more explanations for why you can’t get a payment status update, or why your check simply hasn’t come yet. If you cannot get a status update on your payment, the IRS says that you should check back 24 hours later and try again then.
Avoid Scams Related To Economic Payments Covid
The IRS urges taxpayers to be on the lookout for scam artists trying to use the economic impact payments as cover for schemes to steal personal information and money. Remember, the IRS will not call , text you, email you or contact you on social media asking for personal or bank account information even related to the economic impact payments. Also, watch out for emails with attachments or links claiming to have special information about economic impact payments or refunds.
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Once youve entered your information, youll get one of two messages:
- If you receive the message Payment Status,” this means your check has been processed and will include information such as the payment date and how your check was issued.
- If you receive the message Payment Status Not Available, this means you were either not eligible for a payment, or the IRS wasnt able to issue a payment.
If youve been told your payment status isnt available, heres what to do next.
What Will Be Included With My Tax Refund This Year
There are several things that could be tacked on to your tax refund this year. As usual, if you overpaid on your taxes in 2021, you’ll receive that money back. However, if you’re a parent, you could also expect to receive the rest of your child tax credit money, as well as a reimbursement for money you spent on child care related expenses last year.
Also, if you’re still missing your third stimulus payment, you might receive that when you get your tax refund.
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What Are These Irs Tax Refund Statuses
Both IRS tools will show you one of three messages to explain your tax return status.
- Received: The IRS now has your tax return and is working to process it.
- Approved: The IRS has processed your return and confirmed the amount of your refund, if you’re owed one.
- Sent: Your refund is now on its way to your bank via direct deposit or as a paper check sent to your mailbox.
Changing Bank Account Or Mailing Information
The IRS cannot change payment information, including bank account or mailing information. If an eligible taxpayer does not get a payment or it is less than expected, it may be claimed on the 2020 tax return as the Recovery Rebate Credit. Remember, Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.
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Stimulus Check Update: President Biden Feels Strongly About Providing This Stimulus Money In 2022
by Christy Bieber | Published on Jan. 20, 2022
Many or all of the products here are from our partners that pay us a commission. Its how we make money. But our editorial integrity ensures our experts opinions arent influenced by compensation. Terms may apply to offers listed on this page.
President Biden is pushing hard for this additional stimulus relief in 2022.
What Can The Irs Do For A Missing Stimulus Check
The IRS will do the following to process your claim, according to its website:
- If you didn’t cash the check, the IRS will issue a replacement. If you discover the original check among your belongings, you’re expected to return it as soon as possible.
- If you did cash or deposit the check, expect a claim package from the Bureau of the Fiscal Service, which will include a copy of the cashed check. Follow the included instructions. The bureau will review your claim and the signature on the canceled check before deciding whether it will issue a replacement. This is presumably to guard against stimulus check fraud.
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What Happens If My Dependents Changed In 2021
If you added a new child to your family in 2021, you may be eligible for a recovery rebate credit for that child. On the other hand, if you have an adult child that you will no longer be claiming as a dependent this year, its possible that child may be eligible for their own credit when filing 2021 tax forms.
Divorced parents who claim children on alternate years may also benefit from a recovery rebate credit. For instance, if one parent claimed a child in 2020 and received a stimulus payment last year, the second parent may be able to claim the child on their 2021 return and receive a credit this year. Check with a tax professional to be sure.
Will Parents See More Stimulus Money In 2022
Although Biden indicated he felt strongly about offering stimulus relief to parents in the form of the expanded Child Tax Credit, he also conceded in the Wednesday press conference that he wasn’t sure he’d be able to get either an extension of the credit or his community college plan into the Build Back Better Legislation.
The issue is, there are just 50 Democrats in the U.S. Senate out of 100 total senators. Republicans are able to block most legislation through a procedural move called a filibuster, which requires 60 votes to overcome the filibuster and move the bill forward. But Democrats have a few opportunities to get around the filibuster using a process called reconciliation, which allows a bill to pass with 51 votes. Vice President Kamala Harris can serve as the 51st vote.
That would mean any bill Biden wanted to get passed would need either support from at least 10 Republicans or would need unanimous support from all Democrats in the Senate. Republicans will not vote for Build Back Better, and two moderate Democrats — Joe Manchin and Kyrsten Sinema — have expressed reservations about passing Build Back Better.
Unfortunately, this means that despite the fact that Biden feels strongly about the financial relief for parents that he hoped to provide in 2022, there’s a very real chance that neither parents nor any other Americans will see any new COVID relief checks at all this year.
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Can I Track My Stimulus Check
Yes, you can track your stimulus check. The IRS has set up a web page that allows you to track your stimulus check. When you visit the Get My Payment page, youll be asked to enter some personal information.
After you enter your Social Security number, birth-date and address, youll get a message regarding your stimulus check.
The message will tell you one of four things:
- Your stimulus check has been scheduled to be deposited into your bank account
- Theres been a check mailed to you
- Your payment is still in process
- The IRS cannot determine your eligibility for payment at this time
You may need to contact the IRS if you need more information, but expect a long phone wait if you do.
Who Qualifies For Advance Payments
To qualify for advance payments of the Child Tax Credit, you must have:
- Filed a 2019 or 2020 tax return and claimed the Child Tax Credit on the return or
- Given us your information in 2020 to receive the Economic Impact Payment with the Non-Filers: Enter Payment Info Here tool or
- Given us your information in 2021 with the Non-Filer: Submit Your Information tool and
- Lived in a main home in the United States for more than half the year or filed a joint return with a spouse who has a main home in the United States for more than half the year and
- A qualifying child who is under age 18 at the end of 2021 and who has a valid Social Security number and
- Made less than certain income limits.
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What’s The First Step To Take
First, you need to log into the Internal Revenue Services Get My Payment tool.
Youll be able to find out when the IRS sent out your check, how much it should be, how it’ll be paid if there’s a delay and more.
To use it, youll need your Social Security Number or Individual Tax ID Number .
If you’ve forgotten your SSN or need a new card, see how you can get a replacement on the official SSN website.
Youll also need to enter your date of birth and address.
How Soon After Requesting A Payment Trace Will Your Stimulus Check Arrive
You should get a response from the IRS about six weeks after the agency receives your request for a payment trace, according to its website. But this could be delayed due to limited staffing.
For more, read about a potential fourth stimulus check and what else is in the stimulus package that may help you financially.
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Could Other Economic Relief Affect My 2021 Tax Return
Its possible. Here are some of the ways that 2021 government relief programs could affect your return this spring:
Enhanced unemployment benefits: Many unemployed workers continued to receive enhanced federal unemployment benefits through the spring and summer of 2021. While the government waived taxes on up to $10,200 of benefits received in 2020 by income-eligible people, that perk didnt extend into 2021.
Its especially important for those who withheld too little, Barlow says. They could be hit with an unexpected tax bill when filing their return this spring.
Advance child tax credit payments: During the second half of 2021, the IRS sent advance payments to families expected to be eligible for the child tax credit. These payments were calculated to equal half a familys total credit.
This one is a bit of good news, bad news, Camhi says. Getting the payments in advance was helpful to many families, but the bad news is that some people could see a smaller credit . And a smaller credit could result in a smaller refund or in some cases even result in taxes being owed.
Suspended student loan payments: The government suspended payments on eligible federal student loans during 2021 and instituted a 0% interest rate. While paying no interest is great, it could have tax consequences.
That will affect people who normally deduct interest, Barlow says. It means the loss of an up to $2,500 deduction for some people.
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