Stimulus payments slow to reach many citizens
Nearly 90 million U.S. citizens have already received a stimulus payment from a massive federal government economic relief package related to the coronavirus pandemic.
It’s a good start, as over $150 billion has already been distributed. But, we know that tens if not hundreds of millions of Americans who are eligible to receive up to $1,200 if single or $2,400 if joint filers are still waiting.
If you find yourself in that category, it might be a good time to try the IRS’ ‘Get My Payment’ portal again.
CNBC reports that the IRS boosted the system in some undefined way over the weekend, which, anecdotally, has opened the door for many who were previously getting some kind of error message, including but not limited to one that said the portal did not have enough information to determine eligibility.
Remember: If you didn’t receive payment yet but think you should be getting one, it’s best to check into the portal to make sure your bank account information is on file for a direct deposit. Some ran into issues in recent weeks thinking that, because they paid what they owed the IRS via a bank account that their information would already be on file. It turns out, however, that that only applied to those who received a refund.
In related news, The Washington Post has key dates to watch:
“In an update posted Sunday, the IRS said that if you have successfully entered your bank information “any day until noon on Tuesday, your payment date will be available beginning the following Saturday.” If you miss the Tuesday deadline, you have to wait another week to get a payment date. Or, if your payment has already been processed, you’ll get a check that could take up to 14 days to receive.
“If you receive SSI or Veterans Affairs benefits and didn’t file a tax return for 2018 or 2019, you have until May 5 to use the non-filer tool on the IRS website to receive the $500 payment per dependent child under 17. If you miss the deadline to register dependent children, you will still get your $1,200 payment, but you will have to wait until next year to get the additional $500 when you file a 2020 tax return.”
Paper checks are also starting to go out, but remember: Those will take longest, perhaps even into the late summer, to reach everyone who is getting one.
Finally, Forbes via the Arvis Institute has a nice rundown of how much money has been disbursed on a state-by-state basis.
Those with additional questions should first check the IRS FAQ page.