Stimulus Check: What to Do if Your Check Expired Before Cashing It?
The Internal Revenue Service (IRS) has started sending a series of stimulus checks since the beginning of the pandemic. However, an issued stimulus check has a deadline for how long the recipients can cash them.
It has since delivered more than 156 million payouts since the release of the third round of stimulus checks. It was worth approximately $372 billion, according to a CNET 2021 report.
Those who received the stimulus checks that the IRS issued were getting $1,400 in their checks. Eligible recipients can also get much more money in the expanded child tax credit and the $300 federal unemployment checks.
All U.S. Treasury checks expire one year after the date of issue. But if you missed the deadline, here are some steps you can take to be able to use it.
Stimulus Check Expired
Recipients who received their stimulus checks and failed to cash them before the deadline can write a letter of explanation to the U.S. Treasury to request a new one.
According to the Moores Rowland Tax Consultants, the letter should include the statement "Return of expired check because..." and explain why you are returning the expired stimulus check.
One should also note the check number and issue date in the letter, as well as their current mailing address and telephone number.
Recipients should also write the word "void" in large letters on the back of the Treasury check in the endorsement area, where you usually sign the check.
The check should be placed in an envelope for mailing with the letter. However, recipients should not bend the check, staple, or attach the check to the letter.
To know the IRS mailing address, recipients requesting a new stimulus check should look on the front of the Treasury check to find the city's name that determines the appropriate IRS mailing address.
Remember to check the status of your request as the IRS does not provide a formal process for checking the receipt of a returned Treasury check or the status of a request for a replacement check.
The usual period of waiting is 21 days. Recipients can also ask about the replacement check at an IRS office near their area.
Meanwhile, suppose you received a check or Electronic Funds Transfer payment from the Treasury and do not know why it was sent, the regional financial center can provide more information, according to the Bureau of the Fiscal Service.
Release of New Stimulus Check
The U.S. federal government has responded to the COVID pandemic by sending out stimulus checks to help low-income and medium-income Americans.
In April 2020, the Treasury Department released a stimulus check worth $1,200 and another stimulus check of $600 in December 2020.
A third stimulus check was released in March 2021, according to Marca. However, a new round of stimulus checks is unlikely to be on the way.
One of the main reasons is the rising inflation, with the rate reaching 7.5 percent in January. Some officials believe that the stimulus checks play a role in the jump in inflation rates.
In addition, unemployment numbers are improving. More and more Americans are earning an income again. With the current Russia-Ukraine crisis, the fourth stimulus check was not a priority for politicians.
READ MORE: Stimulus Check Update: $400 Tax Rebate Proposed in California Amid Gas Price Hike
This article is owned by Latin Post.
Written by: Mary Webber
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