(FinancialHealth.net) – Millions of Americans have begun receiving the Economic Impact Payments promised in the CARES Act. Many families are still waiting, though. If you’re one of the people who have not seen a penny, there could be a few reasons for that.
Here are some of the reasons the Internal Revenue Service (IRS) may not have sent your stimulus payment to you yet:
- You didn’t file taxes in 2018 or 2019, and you haven’t entered your information into the non-filers’ portal on the IRS website.
- Your income falls above the threshold. If you file your taxes individually, your income must be less than $75,000. To receive a partial payment, you must have earned under $99,000.
- The IRS doesn’t have your direct deposit information on file, and the agency is mailing a paper check.
- You owe child support. People with this kind of debt will not receive an Economic Impact Payment.
- You are married to an immigrant with an individual tax identification number (ITIN) number, and you file taxes jointly.
If you don’t fit in one of those categories, the IRS may just be lagging. They’re trying to send millions of payments in a short period of time. You can check the agency’s website using their “Get My Payment” tool.
To help everyone check the status of their Economic Impact Payment, #IRS is launching a tool that will provide the status of a payment, including the date it’s scheduled to be deposited or mailed. https://t.co/dwDsBkf1Xr #COVIDreliefIRS pic.twitter.com/a8eGJlx7ba
— IRS #COVIDreliefIRS (@IRSnews) April 13, 2020
Hopefully, the IRS will have the payments of everyone who qualifies out soon. Americans need all the help they can get as the COVID-19 pandemic rages on.
~Here’s to Your Financial Health!
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