Still waiting for your stimulus check? You have until 12 p.m. Wednesday to give the IRS your bank information.
“After noon Wednesday, the IRS will begin preparing millions of files to send to BFS [Bureau of Fiscal Services] for paper checks that will begin arriving through late May and into June,” the IRS said Friday.
If people miss the deadline or can’t access the “Get My Payment” online tool, which has been plagued by glitches, they may be waiting until June or later to receive their economic impact payment in the mail.
Here’s one situation in which you might want to use the “Get My Payment” tool: You are unsure if your filed 2019 return has been fully processed by the IRS. Don’t assume that it has been. Some folks on a Reddit group — r/stimuluscheck — have been posting their concerns about falling through the cracks.
“Many of us have not yet received a stimulus payment because we have no 2018 taxes on file,” said Kimberlyn Quinn, who lives in Oregon. Because of the coronavirus, she was laid off as a spa esthetician.
Quinn, like many in her situation, can’t use the non-filers tool that the IRS created to get payments to people who aren’t required to file a return. If you intend to file a 2019 return or have filed one already, the agency says don’t use this portal.
So, until the IRS processes their returns, their stimulus payment eligibility cannot be determined.
“It’s frustrating for sure,” said Quinn, who filed her 2019 return in January. A notice from the IRS says her return and refund “is still being processed.”
I host a chat every week on personal finance. Here’s a condensed and edited transcript of last week’s chat. Most questions were about the stimulus money.
Q: Where is my check? Who can help? This is frustrating! No place to enter a request to fix a problem. I am a Social Security recipient and have not filed taxes for several years. I have not received a check although I get my Social Security payments through direct deposit. I have tried to go online multiple times and entered my information, but I keep getting a message that says the IRS either can’t determine my payment status or they don’t have enough information.
A: If you fall within the income limits to get a payment, you should get an economic impact payment. Not having it by now doesn’t mean you aren’t getting the money. It could just mean the IRS hasn’t gotten to you yet. Because you have not filed taxes for years, your payment will be based on your status of receiving Social Security, and as such, you were not in the first wave of folks getting payments.
Think of it like the lines at the supermarket.
People who got their payments already were in the “15 items or less” line. They had a return on file with the IRS and — this is key — had a refund due to them in 2018 or 2019.
Then there are the other lines. Some appear long, but the cashier gets people through fairly quickly.
Most frustrating is the line with the chatty cashier. It looks short, but it takes super long — that’s people getting Social Security, survivor, disability, Supplemental Security Income, Railroad Retirement, or veterans compensation and pension benefits. You would think this line would go quicker because their information is already on file at a government agency or department. But it’s not at the IRS. So the IRS had to get information from the Social Security Administration or Department of Veterans Affairs, transfer that information to its system, and then start making payments.Read more...
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Hi, Its me Hafeez. A webdesigner, blogspot developer and UI/UX Designer. I am a certified Themeforest top Author and Front-End Developer. I'am business speaker, marketer, Blogger and Javascript Programmer.
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