You Recently Switched Banks
Maybe youve finalized a divorce, or closed or changed your bank account to avoid fees or you moved to a new state where your old bank has no branches. Unfortunately, the IRS cant make a payment to an account it doesnt recognize.
If your most recent stimulus payment was sent to a closed or inactive bank account, by law the financial institution must return that payment to the government. The bank cannot hold and reissue the payment to you if the account is not active, even if you have other active accounts at the institution.
You cannot change the bank information that the IRS has on file. You will have to wait until the payment is returned to the IRS and then the government will mail a check or debit card to youand this may take a number of weeks.
What Is A Recovery Rebate Credit Will It Change The Amount You Receive
A Recovery Rebate Credit is a tax credit that will either increase the amount of your tax refund or decrease the amount of tax you owe, based on how much of your stimulus funds the IRS still owes you.
File for your missing money from the first and/or second stimulus on the 2020 Form 1040 or Form 1040-SR. The tax return instructions include a worksheet to figure out the amount of any Recovery Rebate Credit for which you’re eligible, according to the IRS. However, this worksheet requires you to know the amounts of your stimulus payments. CNET’s stimulus check calculators for the second and first payments can provide an estimate.
Find out the IRS’ official total for you in two ways:
- IRS letters: You should have received IRS Notice 1444 for the first stimulus payment, and you should receive Notice1444-B for the second. Hold onto those letters, because you’ll need the information for the Recovery Rebate Credit worksheet or any tax preparation software you use. If you lost the letters, here’s what to do.
- Your online tax account: In the coming weeks, if you have an account on IRS.gov/account, you’ll be able to log in and see the amounts of the stimulus payments you were allotted.
What If I Am Married To Someone Who Owes Child Support Will My Tax Return Be Applied To The Child Support Arrears They May Owe
Yes,unless you are eligible for relief. If youdo not owe child support butyouare married tosomeonewhoowes child support,you may need to file an Injured Spouse Claim and Allocation -Form 8379
In some instances, the IRS offsets a portion of the payment sent to a spouse who filed an injured spouse claim if it has been offset by the non-injured spouses past-due child support. The FAQ on the IRS stimulus FAQ www.irs.gov/coronavirus/economic-impact-payment-information-center website states: The IRS is aware that in some instances a portion of the payment sent to a spouse who filed an injured spouse claim with his or her 2019 tax return has been offset by the non-injured spouses past-due child support. The IRS is working with the Bureau of the Fiscal Service and the U.S. Department of Health and Human Services, Office of Child Support Enforcement, to resolve this issue as quickly as possible. If you filed an injured spouse claim with your return and are impacted by this issue, you do not need to take any action. The injured spouse will receive their unpaid half of the total payment when the issue is resolved.
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Amount And Status Of Your Payment
To find the amount of the third payment, create or view your online account or refer to IRS Notice 1444-C, which we mailed after sending the payment.
If you are sent a plus-up Economic Impact Payment after your 2020 tax return is processed:
- The amount of your initial third payment will no longer show in your online account. You will only see the amount of your plus-up payment.
- The status of your initial third payment will no longer show in Get My Payment. You will only see the status of your plus-up payment.
There’s A Glitch With Your Bank Tax Prep Software Or The Irs
This explanation may be the most frustrating of all for people wondering where the heck their stimulus checks are. But a mistake made by your bank, the IRS, or the tax-prep software you used to file returns could screw up your stimulus payment.
As the Washington Post reported, the stimulus payments for millions of taxpayers may be delayed because of a glitch with tax-prep software firms, such as TurboTax, H& R Block, and Jackson Hewitt. The IRS might not have direct deposit information for you if you used one of these services and received an advance on your tax refund, or if you paid for the service by deducting the fee from your tax refund. And if the IRS doesn’t have your direct deposit info, your stimulus check will be delayed. If you think this situation applies to you, use the IRS Get My Payment app to provide the agency with your direct deposit details.
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What To Do If One Of The Three Stimulus Checks Hasn’t Arrived
About 15 days after the IRS sends out your check, you should receive a letter from the agency confirming the payment. When the first round of stimulus checks went out last year, that letter included two hotline phone numbers because thousands of agents were available to help. But with the second and third rounds of checks, the IRS changed its tune, and these phone numbers may be disconnected.
Here are common scenarios that might indicate you need to look into your stimulus payment:
- If you’re one of the millions of people who qualified for the first stimulus check but never got it.
- If your second stimulus check has still not arrived.
- If you got a letter from the IRS saying your third check was sent, but never received the payment. Or, if the IRS Get My Payment portal said your payment was sent, but you didn’t get it.
- If you got some of your stimulus money from any payment, but not all of it.
You should also confirm you’re qualified to get the stimulus payment, since not everyone who received a previous check is qualified this time. If you think it’s time to take action, read for more options.
Use The Irs Get My Payment Tool To Track Stimulus Money
For the third stimulus check: It’s worth visiting the IRS’ online portal designed to track the status of your 2021 payment. Generally, it should tell you when your check will be processed and how you’ll receive it: for example, as a paper check in the mail. If the Get My Payment tool doesn’t give you information you can understand or says your check is on the way and you haven’t received it, you may need to eventually request a payment trace or file for a recovery rebate credit.
For the first or second payment: If you can’t find the letter sent by the IRS, you’ll need to create an online profile with the IRS to see your status. For any problems, you may need to issue a payment trace or file for a recovery rebate credit, even if you don’t normally submit a tax return. Here’s more information about finding the amount of your first and second payments.
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Frequently Asked Questions About Stimulus Payments
What is a government stimulus payment?
As part of the American Rescue Plan Act of 2021, the federal government is providing stimulus payments to eligible recipients.
How will I know if I qualify?
Please note: Eligibility criteria outlined in the American Rescue Plan Act of 2021 differs from prior rounds of stimulus payments. Wells Fargo does not have the ability to determine whether you qualify. Your eligibility is determined by the government. To learn more about eligibility and payment amounts, visit IRS.gov/coronavirus.
How will I receive my payment?
If youâre eligible to receive a payment, you will receive the funds in one of these ways:
- By prepaid card. Instead of receiving a paper check, some customers will receive a prepaid card in the mail. Customers are able to use this card like a debit card or transfer funds from their Economic Impact Payment card to their bank account from the Eipcard.com website, from the Money Network Mobile App, or by calling 1-800-240-8100.
Once the IRS begins to distribute payments, the IRS’s Get MY Payment tool will be updated to reflect direct deposit or mailed payment date. The IRS is expected to update the payment status regularly.
When will I receive my payment?
The U.S. Treasury has indicated that payments will be distributed in multiple phases and could take several weeks to distribute, so not everyone will receive payments at the same time.
You can check on the status of your stimulus payment using the IRSâs Get My Payment tool.
What If You Got An Irs Letter In The Mail But No Payment
About 15 days after the IRS sends your third stimulus check , you should get a letter from the agency confirming your payment. The IRS is still sending these letters for the third payment.
If you received this letter — also called Notice 1444, Your Economic Impact Payment — but you never got your payment, you’ll need to request a payment trace. Make sure you keep the letter because you’ll need the information to file your claim. The same is true for the first and second stimulus checks as well.
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Payment Status Not Available: What Should You Do
The IRS Get My Payment tool will only let you input new direct deposit or bank account information if youre seeing a Need More Information status, breaking with tradition from previous stimulus check rounds. That works either by submitting a financial product that includes a routing and account number with it, whether it be a bank account or prepaid debit card.
The easiest way to make sure that the IRS has the most accurate picture of your financial situation and personal whereabouts is by submitting your 2020 tax return. You now have until May 17 to submit your 2020 tax return, after the IRS on March 17 announced it was delaying the deadline by a month.
However, given the unprecedented and unconventional nature of the current tax season, the Treasury Department and IRS may have already attempted to send out your payment before your tax information was processed.
You could also update your mailing address by submitting a Form 8822, Change of Address, or notifying the IRS orally of your move. But be prepared: You might experience delays waiting for confirmation, given that the IRS has already begun distributing these stimulus checks. As always, a direct deposit is the fastest way to guarantee you receive a payment.
Take Action Now To Provide The Irs With Your Information
Coronavirus stimulus checks have already started to go out. You want to make sure you get yours in a timely manner and that you receive the correct amount of money. If you haven’t already and you need to, go to the IRS page today to provide your details.
While you also have the option to file a 2019 tax return to let the IRS know how much you earned, who your dependents are, and where to send your money, completing the special forms on the Economic Impact Page can be much faster and easier if you aren’t otherwise required to file a return. Do it today to get your money ASAP.
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Can You Use The Portal If You Didn’t File A Tax Return
You couldn’t use the “Get My Payment” tool to track the status of your first stimulus check if you didn’t file a 2018 or 2019 federal income tax return. However, there was another online tool that non-filers could use to give the IRS with the information it needed to process a payment.
The non-filers tool wasn’t used for second stimulus checks, though. Instead, if you didn’t file a 2019 tax return, and you didn’t use the non-filers tool to get your first-round payment, then you have to wait to claim your second stimulus check money as a Recovery Rebate credit on your 2020 return.
The IRS is not using the non-filers tool for third-round stimulus checks, either. As a result, if you don’t file a 2019 or 2020 tax return, you’ll have to claim any money you’re owed as a Recovery Rebate credit on your 2021 return, which you won’t file until next year. However, you can avoid having to wait until next year by filing a 2020 return before the May 17, 2021, deadline.
When To Request A Payment Trace
If the Get My Payment tool says that your third stimulus payment was issued as a direct deposit into your bank account, you should first check with your bank before submitting a payment trace request to make sure they didnt get a deposit. But wait at least five days after the estimated delivery date. Otherwise, the bank might not have the necessary information. After five days, you can request a payment trace if the bank still hasnt received your payment.
If you were scheduled to get a third-round paper stimulus check in the mail, the IRS cant initiate a payment trace unless it has been:
- Four weeks since the check was mailed to a standard address
- Six weeks since the check was mailed if you have a forwarding address on file with the local post office or
- Nine weeks since the check was mailed to a foreign address.
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Why Did We Get Only Half The Amount
Many couples are finding that they are getting direct deposits for only a portion of what they think their stimulus payment should be. Some have gotten half of their payment deposited one week and half the next, and other couples are finding that their dependents’ share of the stimulus money is split between the two parents.
The IRS has explained that the first payment made might be based on a taxpayer’s 2019 tax return, and the second payment is a “plus-up” payment that is based on the taxpayer’s 2020 tax return.
The IRS has also said that part of the problem may be with “injured spouse” claims on a tax return. of only one spouse, the “injured” spouse can request a refund.) The IRS says that these couples will get their payments as two separate payments.
If you haven’t received the full amount, wait until you get your Notice 1444, Your Economic Impact Payment, from the IRS. That letter should have the correct amount of your stimulus payment. If you don’t receive deposits or checks in that amount, you may have to file a Recovery Rebate Credit . You can also read the IRS’s press release from April 1, which contains a lot of helpful details.
If I Owe Child Support Will I Be Notified That My Tax Return Is Going To Be Applied To My Child Support Arrears
Yes.You were sent a noticewhenyour case wasinitiallysubmitted for federal tax refund offset.The federal government shouldsend an offset notice toyouwhenyour stimulus rebate paymenthasactuallybeenintercepted. The noticewill tell youthatyourtax returnhas been applied toyour child support debtand to contactthe Child Support Divisionifyoubelieve this was done in error.
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What To Do About A Missing Or Stolen Eip Debit Card
At least 5 million people will receive their third stimulus check on a prepaid debit card called the Economic Impact Payment Card, instead of a paper check. For the third payment, the EIP card arrives in a white envelope sent from “Economic Impact Payment Card.” The letter will have a US Department of the Treasury seal.
The card has the Visa name on the front and the issuing bank, MetaBank®, N.A., on the back. Information included with the EIP Card explains that this is your Economic Impact Payment. If you receive an EIP Card, visit EIPcard.com for more information.
If you’ve misplaced or thrown away your card, the EIP card service has an FAQ on what to do if your card is lost or stolen. You can also call 800-240-8100 to request a replacement. It’s free, according to a spokesperson for the Treasury Department. To request a new card, press option 2 when prompted.
However, the EIP card website says, “Your Card will be deactivated to prevent anyone from using it and a new replacement Card will be ordered. Fees may apply.” We recommend calling the above number for a lost or stolen card and speaking to a representative. If you may have lost or thrown away a paper check, read the mail fraud section below.
How Can I Get My Money Faster
If you didnt provide your direct deposit information with your taxes but dont want to wait several weeks or months for your stimulus payment, dont panic. A free online tool from the IRS called Get My Payment allows people to provide their direct deposit information so they dont have to wait for their check to arrive in the mail.
But act quickly. The IRS said on May 8 that people have until noon on May 13 to input their direct deposit information into Get My Payment. After the May 13 cutoff the IRS will begin preparing paper checks that will begin arriving through late May and into June, according to an IRS statement.
Get My Payment also lets you track the status of your payment and see what type of payment youll receive. Its designed to work on a desktop, phone or tablet, and you dont need to download it from an app store. To track your payment, youll need to provide your name, mailing address used on your tax return and Social Security number. The IRS says the apps data is updated once a day.
Be careful when entering your information you cant change your bank account info after a payment has been scheduled to be delivered, the Treasury Department said in a press release. Its also wise to be on the lookout for any suspicious emails, calls or texts seeking your personal info, as its likely that scammers will try to take advantage of the stimulus check system to steal peoples personal information.
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