Stimulus Letters Bound to 9 Million People Who Have Not Yet Been Paid
The Internal Revenue Service (IRS) is preparing stimulus letters to about 9 million people eligible to get Economic Impact Payment but still hasn't got the money.
Americans are still on the wait for Congress to agree on the terms of the second stimulus package. However, there is good news! The IRS will send mail letters to 9 million people who haven't received their first direct payment. They may be eligible to get the Economic Impact Payment if they comply with registering by the October 15 deadline.
Starting around September 24, stimulus letters are expected to be mailed. A copy of the letter is available online through the IRS website to help the mail recipients identify if it is legit or potential fraud.
Forbes reported that the CARES Act authorized direct payments of up to $1,200 per adult and $500 per qualifying child. Due to the payment based on the recent tax return, most people who filed income tax returns for 2018 and 2019 received their payments this spring. However, non-filers must register for payment through the IRS. Eligible non-filers could be those who included earning $12,200 or less yearly and unhoused people. These groups of people may be expected that they are not qualified to receive a payment as they did not pay federal income taxes.
Those who haven't filed returns in 2018 and 2019 but may be eligible for a payment will receive an IRS stimulus letter.
Stimulus letters serve as a final reminder
Chuck Rettig, IRS Commissioner, said in a release today, "We are taking this extra step to help Americans who may not know they would be eligible for this payment or don't know how to register for one. People who are not required to file a tax return can quickly register on IRS.gov and still get their money this year."
To check if you are eligible for the stimulus payment, you don't have to wait. Any time up to and including October 15, you may visit the IRS Economic Impact Payments portal to enter your non-filer payment details. You can choose to receive it through a mailed check or a direct deposit if you are eligible for the stimulus payment.
You have to file a federal income tax return once the October 15 deadline passes to claim any additional stimulus funds. Filing electronically for a tax return is free if you were supposed to file a federal income tax return in 2019 to expedite your eligibility determination. Remember that you may be responsible for penalties if you owe taxes for 2019.
Meanwhile, you can choose to file a 2020 tax return next spring to potentially claim a tax credit if you are not required to file a federal income tax return and missed the October 15 deadline. Since the distribution began in April, the IRS reported that it issued about 160 million Economic Impact payments.
Previously FOX Business reported that the IRS recently began taking other steps to ensure that all eligible households will receive their stimulus payments. The IRS reportedly plans to hire 5,000 seasonal employees to work between now and January and assist with correspondence.
Earlier this month, the taxpayer Advocate service said that it would step in to resolve specific stimulus payment problems for those who have missing money and those who received incorrect amounts all together. Besides, the agency recently reopened the window for individuals to enter information about qualifying dependents to receive the $500 dependent payments this year. But some people still have to wait until they file their 2021 return to receive the correct amount.
Check these out:
"Skinny" Stimulus Bill: Senate Republicans will Vote this Week
Next Stimulus Package Must Include Healthcare Price Transparency
Stimulus Checks 2: How Much Money Should You Expect from Each Proposal
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