Stimulus Checks: Key Dates To Remember If You Have Not Received Your Payment
Stimulus checks have already been sent out to millions of Americans but according to the Internal Revenue Service (IRS), there are still about nine million who have not claimed their Economic Impact Payments (EIP).
The CARES Act which was signed last March provided for stimulus checks of $1,200 for adults and $500 for dependents who are aged under 17 at the end of 2019.
According to the legislation, these stimulus payments should be claimed by December 31, 2020, otherwise recipients would have to wait until they file a 2020 tax return in 2021 to get the money.
Most of those who have not yet received their stimulus payments are the low-income earners who did not earn enough to file a tax return.
Or, those who used the non-filers tool that the IRS created to be able to send payments to the low-income earners or those individuals who earned below $12,200 or married couples who have a combined earnings of $24,400.
Or, these are also recipients who did not received the stimulus checks owed to their dependents.
Other recipients may have also missed the deadline set by the IRS in using the non-filers tool to register.
In getting out these payments to the people, a lot of glitches happened such as stimulus checks being sent to non U.S. citizens abroad but who have worked in the U.S. and had paid taxes.
Another glitch is the IRS failing to capture the information of the dependents. Or, even though the recipients had correctly submitted their dependents' information, the IRS calculations failed to include them.
In an effort to get the stimulus checks to eligible recipients before or by December 31, the IRS has reopened the registration and has set new deadlines.
September 30 Deadline
This deadline is for those who have received their payments of $1,200 but not the payments allocated for their dependents. However, do not use this tool, if you have already registered your dependent or dependents via the non-filer's portal. Or, if you have filed a 2018 or 2019 tax return.
October 15 Deadline
This deadline is for people who do not file tax return and have not received their stimulus checks. They have until October 15 to register using the non-filers tool at the irs.gov to be able to get their stimulus checks before the year 2020 ends.
If recipients do not have access to the online non-filers tool, they can submit a simplified paper return but it has to be postmarked by October 15.
If recipients are planning to to file a 2018 or 2019 tax return, they should not use the non-filers tool.
A recipients would not have to do anything if they have already used the non-filers tool to submit their dependents' information as the IRS will send them the payment automatically.
The fastest way to receive the stimulus payment is to provide bank details for direct deposits. Barring that, the IRS will mail the stimulus checks.
Check these out:
2 Million Californians Urged to Claim Stimulus Checks On or Before October 15
IRS Schedules Second Stimulus Check by October 12 As Soon As Congress Approves
Second Stimulus Checks: Families Can Get as Much as $4,400 as Early as October 12
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