At the beginning of the tax season, many ask the place their $ 600 stimulus checks are
As tax season officially kicks off, many Americans still ask, “Where’s my $ 600 stimulus check?”
The stimulus payments were approved by Congress as part of a $ 900 billion Covid aid package passed in December. Within a few days, the federal government began to use the money.
This included payments of $ 600 per person or $ 1,200 per couple filing together, plus $ 600 per child under the age of 17.
Like the first $ 1,200 stimulus checks the government sent out to millions of Americans last spring, payments are based on income.
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Individuals with Adjusted Gross Income up to $ 75,000, Heads of Households up to $ 112,500, and married couples filing up to $ 150,000 together are eligible for Full Payments.
To date, more than 147 million of the second stimulus checks, valued at more than $ 142 billion, have been sent, the IRS said Tuesday.
In January, people reported problems with the tax authority’s online tool, Get My Payment. To get a feel for how widespread the problem was, CNBC.com asked readers if they were having any problems getting their payments.
Hundreds of readers replied.
Some wanted to know why they got the first $ 1,200 direct deposit or check with no issues, but were still waiting for the second. Others receiving social security or other federal benefits wondered why they are still waiting. Some wanted to know why information from the IRS showed the check was being mailed, but weeks later there was still no evidence.
The IRS said Tuesday it issued all “legally permitted” first and second stimulus check payments.
If you’re one of those people waiting for your $ 600 check, there are several steps you can take.
Reconsider whether you are eligible for the money
While the $ 600 payments are similar to the initial $ 1,200 stimulus checks, there are a few differences that can affect whether you get paid and how much you might get.
The checks for $ 600 will expire at the same rate as the first payments. Checks are discounted by 5% of the amount that your Adjusted Gross Income exceeds the Full Pay Thresholds.
However, because it is a smaller sum, the $ 600 payments have lower caps than the $ 1,200 payments. Individuals with Adjusted Gross Income of $ 87,000, Heads of Households with $ 124,500, and Married Couples with $ 174,000 generally receive no payment.
This time, the payments are based on tax returns for 2019, while the first checks were used for either 2018 or 2019. If your first check for $ 1,200 was based on your 2018 tax return and your income has changed significantly since then, it could affect the amount.
Other things to consider: Eligibility may be compromised if you have been claimed to be dependent on someone else’s return, if you did not have a valid Social Security number, or if you are a non-resident alien. People in such situations are not entitled to payment.
On the other hand, those who have unpaid debts are still eligible.
“Unlike other tax refunds, the IRS is not allowed to garnish or collect these payments to pay off other tax debts. So that’s really no problem,” said Joe Bishop-Henchman, vice president of the National Taxpayers Union Foundation.
Use IRS tools to learn more about your payment
There’s no better time to think about next year’s taxes than right after filing this year.
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If you want answers to your questions, please contact an official source.
When we made a troubleshooting request, some people responded with their full names, addresses, and social security numbers.
Please do not pass this information on to third parties until you are sure that they can check the status of your payment for you. In general, that just means the IRS.
Beware of scammers trying to pretend to be a state tax agency to get your personal financial information.
The IRS has put in place ways people can verify their payment.
This includes an online tool called Get My Payment. However, the IRS now states on its website that this tool will no longer be updated for either the first or second stimulus test.
If the Get My Payments website shows a direct deposit date and some of your bank account information, your money should be there. Failure to recognize the account number doesn’t necessarily mean that the money went to the wrong place, according to the IRS. Therefore, you don’t need to file an identity theft affidavit to alert the IRS of suspicious activity.
If instead you see an email date for your check on the Get My Payment website, the IRS recommends that it can take up to three to four weeks for it to arrive. Be on the lookout for a check or debit card that comes in an envelope with the US Treasury Department’s seal on it.
If you have any questions about the whereabouts of your payment afterwards, there is something else you can do: request payment tracking.
It must be some time before you can initiate a trace. For direct deposits, this is five days from the date of the deposit, unless the bank has a record of receipt of the payment.
For the second $ 600 stimulus check, the check begins February 24th if sent to a standard address. If you have deposited a forwarding address with the post office, you should wait until March 10th. Individuals and families with foreign addresses should provide them by March 31st.
Payment tracks should not be used to find out if you are eligible or to check how much money you can get.
To help with specific questions about economic impact payments, the IRS has established a live support phone number. However, the agency states that aid is “extremely limited at the moment”. A separate phone number is available for people with questions about Stimulus debit card payments.
Request for a discount credit refund with your tax return
If your efforts still don’t bring payment, you can apply for a refund credit when you file your taxes in the spring.
“According to the IRS, they made all the payments, so if you didn’t get them in the mail, you will likely have to use the tax form route,” Bishop-Henchman said.
Those who are eligible for the Refund Credit include those who have either not received stimulus checks or have direct payments received for less than owed.
If you have already received some money, the balance you receive will be reduced by that amount.
Individuals and families who typically fail to file taxes, often because their income is too low, must do so this year to receive credit.
A worksheet is available with Forms 1040 and 1040-SR (a senior tax return form) to help you determine whether or not you qualify for the money.
Additionally, free filing tools through the IRS and certain tax preparation websites can help individuals and families submit their information to receive credit without paying.