Where is my third stimulation check? 6 reasons why you always wait – Forbes Advisor

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Millions of Americans Celebrate Increasing Their Bank Account: The IRS sent 127 million stimulus payments which started landing in bank accounts on March 17th.

But if yours hasn’t arrived yet, don’t worry just yet. The IRS will continue to send more towers in the coming weeks. Here’s why you haven’t received your third stimulus payment yet.

Calculator: Estimate how much your third stimulation check might be

1. Your payment has not yet been processed

If you haven’t received a direct deposit or physical payment and the IRS Get my payment tool says “Payment Status Unavailable”, don’t panic.

On that same page, it should also state that “If you receive this message, either we have not yet processed your payment or you are not eligible for a payment.” “

the eligibility conditions have changed of the last two rounds of payouts, so watch out for the new numbers to make sure you actually qualify this time around.

If the message you receive from the Get My Payment tool says “Need more information,” your payment was returned to the IRS because it could not be delivered. In this case only, people who receive this message can use Get My Payment to enter the correct information for their bank account. For direct deposit, this includes your bank name, bank account number, and routing number. Do not try to contact the IRS by phone to provide banking information.

Be aware that the IRS only updates the Get My Payment Tool information once a day, usually overnight, so refreshing throughout the day will not produce any new information.

2. Your contact details have changed since your 2019 tax return

According to the MYMOVE relocation and analysis tools study of USPS change of address request data, 16 million Americans temporarily moved during the pandemic– if that’s you, the IRS may not have your last address on file.

And even though you filed your tax returns early this year, the IRS may not have processed your 2020 tax return. 6.7 million tax returns are stuck in a backlog waiting to be processed, according to a March 12 Washington Post report.

If your mailing address has changed, there are several ways you can let the IRS know your new contact information:

If the government has already sent your payment to an old address, you’ll need to wait for it to be returned to the IRS and see if you can update your information through Get My Payment.

If so, Get My Payment will display “Need More Info”, typically two to three weeks after the payment is issued. Then, via the tool, you can enter a routing and an account number for your bank account, your prepaid debit card or an alternative financial product to which is associated a routing and an account number.

3. You recently changed banks

Maybe you’ve finalized a divorce, or closed or changed your bank account to avoid fees or you have moved to a new state where your old bank does not have branches. Unfortunately, the IRS cannot make a payment to an account it does not recognize.

If your most recent stimulus payment was sent to a closed or inactive bank account, by law, the financial institution must return this payment to the government. The bank cannot withhold and reissue the payment if the account is not active, even if you have other active accounts at the institution.

You cannot modify banking information recorded by the IRS. You will have to wait for the payment to be returned to the IRS, and then the government will send you a check or debit card, which can take several weeks.

4. Your payment is sent by post

The IRS says if it has direct deposit information on file for you, this is how you will receive the third stimulus payment. However, even if the IRS has a checking bank account on file, you still cannot receive your stimulus payment as a direct deposit.

Due to the pressure of tax season and the complexity of 2020 tax returns due to pandemic tax breaks and other types of government aid, if direct deposit returns an error of any kind or, your stimulus payment will be sent in the form of a check. or in some cases, like a debit card.

If the IRS doesn’t have direct deposit information for you, it will send payments by check or prepaid debit card (also known as an economic impact payment card). The Get My Payment tool will show that your payment has been mailed, but it will not say whether you will receive a check or a debit card.

5. Mail delivery remains slow

The United States Postal Service (USPS) was plagued by delivery delays over the holiday season, exacerbated by high levels of online shopping and thousands of postal workers catch Covid-19. While delivery times have improved since December, according to the New York Times analysis of a USPS report, only 84% of first class mail was delivered on time in early March, below the agency’s target of around 96%.

The IRS has announced that it will be mailing another batch of stimulus payments the week starting March 22 (this includes stimulus checks and debit cards.) If Get My Payment says your payment has been sent , be sure to check your mail regularly, especially if it is not in a secure location. For added protection, consider signing up for the free USPS service, Informed delivery. This allows you to get a preview of your mail arriving that day.

You can see what stimulus checks, EIP debit cards, and envelopes look like on the IRS website.

6. You receive social security benefits or generally do not declare taxes

If you receive social security benefits, or not earning enough income to file your taxes, the IRS has experienced a delay in validating your eligibility for the third stimulus payment. The IRS had to wait until it received information from the Social Security Administration (SSA) before it could review and verify if you were eligible for a payment and for what amount.

After receiving the SSA information on March 25, the IRS announced on March 30 that most, if not all, Social Security beneficiaries and other federal beneficiaries who do not normally file a tax return and are eligible for a stimulus check, are expected to pay electronically on or around April 7.

This includes those receiving Social Security Retirement, Survivor or Disability (SSDI), Supplementary Security Income (SSI), and Railroad Retirement Board (RRB) beneficiaries who have not filed an income tax return. for 2019 or 2020 or who have not used the Non-Filers tool

The IRS announcement also said that the Get My Payment tool will be updated to reflect this change on the weekend of April 3-4 for those who expect to receive their payments by April 7.

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