What to Do If You Have Not Received Your IRS Stimulus Check

receive your stimulus check in 2024

Understanding the Economic Impact Payment

 

The Economic Impact Payment, also known as a stimulus check, is a financial assistance the U.S. government provides to help individuals and families cope with the economic impact of the COVID-19 pandemic. These payments are intended to provide immediate relief and help stimulate the economy.

The payment is based on your latest filed tax return. Eligible individuals receive up to $1,200, married couples up to $2,400, and an additional $500 per qualifying child. The payments phase out at higher income levels. It’s important to note that the Economic Impact Payment is not considered taxable income, and you will not owe any tax to the Inland Revenue Services (IRS) on this money. However, if you have yet to receive the full amount you were entitled to, you may be able to claim the remainder when filing your next tax return.

Understanding the details of this assistance can help ensure you receive the full benefits you are eligible for. This post helps you discover possible steps that you may take if you have not received your IRS stimulus check. Read on to explore more.

Reasons Why Your Stimulus Check May Be Delayed

While most eligible Americans have already received their economic impact payments, also known as stimulus checks, some may still be waiting. There are several potential reasons why your stimulus check could be delayed.

  • Failure to update your latest bank information

One common reason is if the IRS does not have up-to-date banking or address information for you. If you recently moved or changed bank accounts, the IRS may need the correct information to issue your payment.

  • Eligibility issues

Eligibility issues can also cause delays. If questions arise about your tax filing status, dependents, or income level, the IRS may need to review your information further before sending your check.

  • Technical issues with IRS system

Technical problems or high volume at the IRS could also slow down the distribution process. With millions of payments going out, the system may experience bottlenecks that delay processing.

If you are still waiting on your stimulus check, it’s recommended to check the IRS’s online tool to track your payment status. You can also contact the IRS directly if you believe there is an issue with your eligibility or payment information.

Steps to Track the Status of Your Stimulus Check

If you’re still waiting for your stimulus check from the government, you’re not alone. Many people are in the same boat, wondering when their payment will arrive. Here’s what you can do in the meantime:

1. Use the IRS Get My Payment tool:

The IRS has created an online tool called Get My Payment that allows you to check the status of your stimulus payment. To use this tool, you’ll need to provide your social security number, date of birth, and address.

2. Check your bank account:

Once the IRS has processed your payment, the funds should be deposited into the bank account you provided on your most recent tax return. Check your bank account regularly to see if the payment has been made.

3. Review IRS notices:

The IRS may send you a notice in the mail confirming that your stimulus payment has been issued. This notice will provide details on the amount and method of payment.

4. Contact the IRS:

If the tool indicates that your payment has been processed but you still haven’t received it, you may need to take additional steps. Contact the IRS by phone or through their website to inquire about the status of your check and whether there are any issues that need to be resolved.

If you are still having trouble tracking the status of your stimulus payment, you can contact the IRS directly by phone or by mail. Be prepared to provide your personal information and any relevant tax return details. By following these steps, you can stay informed on the status of your stimulus check and ensure that you receive the funds you are entitled to during this challenging time.

Conclusion: Don’t Lose Hope – Claim Your Stimulus Check

The deadline to claim your 2020 stimulus check may have passed, but that doesn’t mean you’ve missed your chance to get the money you’re owed. Even if you didn’t file a tax return in 2020 or 2021, you can still claim your stimulus payment by filing a 2021 tax return.

The IRS is urging anyone who did not receive their full stimulus amount to file a 2021 return, even if they don’t normally have to file. This includes low-income individuals, recipients of federal benefits like Social Security, and those experiencing homelessness. By filing a 2021 tax return, you can claim what’s known as the Recovery Rebate Credit, which will get you the stimulus funds you’re eligible for. This credit can be worth up to $1,400 per person.

Don’t lose hope – take the time to file your 2021 taxes, and you could still get the stimulus money you deserve. The IRS is committed to ensuring everyone who qualifies receives their full payment, so be sure to claim what’s rightfully yours.

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