Still, waiting for that stimulus check to arrive? It might be time to do something about it. Since the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) was passed in the US, more than 127 million people have been qualified for the benefits. With the recipients in such a large number, a few hurdles were more than obvious. Many qualifying recipients are still awaiting a check. The third stimulus check is already signed, and many have been complaining that they never received the first or second check, let alone the third one. The Internal Revenue Service (IRS) recently issued guidance on how to make follow-ups on the due payments. The first thing of paramount importance is to make sure you qualify for a check.
Do you qualify for a stimulus check?
You can conveniently know whether you qualify for the stimulus check if you know your AGI (Adjusted Gross Income). As per the IRS, individuals with up to $75000 AGI, or married couples with a joint AGI of $150,000, can qualify for payments of up to $1200 per person. Tax filers who earn more than that will have a reduction of $5 for every $100 earned up to the phase-out limits. Joint filers with no children, having a joint AG of $198000, and individual filers with AGI of more than $99000 do not qualify for the stimulus check.
How to follow up on the check?
If you qualify for the stimulus check and have not received it yet, you have some follow-up to do. There is a formal process in place that can ensure the benefit gets credited to you. You can start by heading to the official website of the IRS. The payment information is available on the ‘get my payment’ tab on the navigation. You might have to enter your banking information to set up a direct deposit. The website categorically explains the process of using the tool. You can check the status of your stimulus check, along with the expected type of payment.
If you believe that your stimulus check is lost, destroyed, or stolen, you can request a ‘payment trace’. You can raise the request specifically if you have received Notice 1444. In such cases, you can contact the IRS for further assistance. The IRS has issued key guidelines related to the period of waiting and timeline to contact. You can establish communication five days after the direct deposit payment was supposed to arrive. You will have to wait for four weeks after the check is mailed or six weeks, in case you are using a forwarding address. If you have a foreign address, you will have to wait for nine weeks before you decide to contact the IRS. If you wish to request a payment trace, you will have to call 1800-919-9835. If you want to start the procedure via mail, you will have to fill Form 3911.
Claim missing money on 2020 tax return
If you are sure that you qualify for the stimulus checks and never got the money or confirmation from the IRS, you will have to file for same. The IRS has started processing tax returns on February 12, and the federal returns will be due in May. You will have to file for the missing money using Form 1040 or Form 1040-SR. With the tax return instructions, the IRS has attached a worksheet that can help you figure out the amount of Recovery Rebate Credit. Note that you can dial 1-800-829-1040 any time during the day for federal tax questions.