Category: COVID-19: Stimulus Checks
“Do not call.”
That’s one of the first things you’ll see on the IRS web page focused on “Coronavirus Tax Relief and Economic Impact Payments,” otherwise known as stimulus checks.
People have many questions about the stimulus checks. They’re the coronavirus relief payments that give up to $1,200 per adult and $500 per child under age 17 to those who meet the eligibility requirements and have their information on file with the IRS or select other federal agencies. Among the stimulus check questions people might want answered:
• Who gets stimulus checks first?
• Can you track your stimulus check?
• Where’s my stimulus payment?
• What happens if your stimulus check goes to the wrong bank account?
• Why is the IRS portal showing me a “Payment Status Not Available” message?
• When are paper stimulus checks being mailed?
But you won’t be able to call the IRS and talk to a live customer service representative about any of these issues. (To fill in the gaps, MONEY has tried to answer these questions and many others as best we can with our ongoing coronavirus coverage.)
Why can’t you get the IRS on the phone? Basically, the IRS has reduced staffing to the point that it doesn’t have anyone to answer the phones. And the reason for the reduced staffing is the same reason that stimulus checks are being issued in the first place: the coronavirus.
Posted on 24 Apr 2020, 12:35 - Category: COVID-19: Stimulus Checks
You can now track your stimulus check, find out how you’re being paid — and, if you want, update your bank direct deposit information to get your stimulus payment as fast as possible.
The online IRS portal for entering payment information and checking on the status of stimulus checks has just added a new feature. The application is called Get My Payment.
The GET MY PAYMENT tool allows taxpayers to check on the status of their stimulus payments and confirm whether the money is arriving via direct deposit or paper check. You can also enter new bank information if your direct deposit account isn’t on file.
At least in theory this is how the Get My Payment app is supposed to work. On Wednesday, April 15, the first day the service was available to the masses, people have been complaining on social media about how the app crashed or gave them frustrating messages like “Payment Status Not Available.” People are also being told to check back 24 hours later and give it a try then if their payment status is not available.
Posted on 15 Apr 2020, 20:26 - Category: COVID-19: Stimulus Checks
Here’s the rough schedule so far, courtesy of a House Committee on Ways and Means :
this week (week of April 13th, 2020), the IRS will send out 60 million payments to taxpayers for whom it has direct deposit information from their 2018 or 2019 tax returns
late April: the IRS will do a “second run of payments” to Social Security beneficiaries who didn’t file tax returns in 2018 or 2019 but do have direct deposit on file.
week of May 4: the IRS will start mailing paper checks at a rate of 5 million per week — a process that could last up to 20 weeks
How do I know if I missed — or someone stole — my stimulus check?
Watch your mailbox. The IRS says it’s going to mail out letters within 15 days of making people’s payments, complete with “information on how the payment was made and how to report any failure to receive the payment.” The note will go to taxpayers’ last known address.
So, if you get a letter but didn’t receive a direct deposit or paper check, you may want to contact the IRS. And remember: The IRS will not call, text or email you “asking to verify or provide your financial information so you can get an economic impact payment or your refund faster,” according to a news release. That’s a scam.Read More...
Posted on 13 Apr 2020, 20:50 - Category: COVID-19: Stimulus Checks