Several situations have delayed the initial incentive payment, and if these apply to you, there are steps you can follow to resolve them now. For example, if you don’t have, like you , changed bank status or has suffered debt, it is possible that you could get to the end of the line and should wait weeks or months after the IRS starts sending them out.
Keep reading to find out how to prepare for another stimulus check when it comes along – and try ourto estimate the size of your future payment. For more information, here’s how incentive payments work , and .
Change your address with the IRS if you’ve recently moved
If you’ve moved to a new address after filing your 2019 tax return (or at any point during the coronavirus pandemic), you’ll need to do two things to make sure your stimulus check can reach you by mail:.
You should do this even if your new location is temporary – you can always update it if you move again. Even when your first check came(meaning your second check probably would too), you still want to make sure your address is up to date so that you receive the IRS letter verifying when your payment was sent. When the letter arrives, but your money doesn’t, you know you have a problem to solve.
To change your address with USPS, go to usps.com/move. To do this with the IRS, you have three options: fill out Form 8822, change your address over the phone, or notify the IRS in writing to “the address where you filed your last return” by your full name, your old and new addresses, your social security number, the identification number of the individual taxpayer or employer identification number and your signature. (Find more detailed instructions at.)
Keep your bank status up to date
Changing your bank status can delay the receipt of your incentive payment. According to an analysis by the Urban Institute think tank, black Americans and other people of color are more likely to have “bank money” than white Americans. People who identify as white and whose income was above the poverty line were more likely to have received their first stimulus check by the end of May than people who identify as black, Hispanic, or below the poverty line, the analysis found, because thewent to people who registered their bank account information with the IRS.
Several major banks, including Bank of America, JPMorgan Chase, and Wells Fargo, are now offering more affordable check-free bank accounts as part of a government-backed effort to help people with the banking system.
A second check will likely arrive in the same way as a first check. If you are a person without a bank account and your first payment came in by mail, check or, a second will probably come in the same way.
Consider setting up a direct deposit
If you have a bank, you can use the IRSonline service to set up a direct deposit for your incentive payment, and to find out and see the status of your check . The deadline for succeeded, but will likely reopen when and if a second check occurs.
If you didn’t file a tax in 2018 or 2019, fill out this IRS form
People who earned below the threshold to file federal income tax returns in 2018 or 2019 were not given an incentive check unless they(This group includes low-income families and children and a disproportionate number of black people and people of color).
If your first check is, you to claim your missing money – or , if you’ve only received a partial check – to get payment before tax season 2021. (You can You must also complete the non-affiliate form so that the IRS has your information on file if a second check is approved.
Pay child support in arrears
If you spend more than $ 150 in(so-called arrears), your state may reserve the right to based on how much you owe. This would likely be the case if a second stimulus check is also passed. If possible, you should pay any child support overdue as soon as possible to ensure you get your full stimulus check, as well as any possible payment for your child.
If you owe child support, you can receive money from your child’s other parent, although it may take a while to get to you after it has been processed by the state. Read more about.
Have your tax documents in order
like you(that was on October 15), you can still submit late. There is no penalty for doing this if you owe a refund, but if you owe the IRS money, starting July 16, 2020, you will be subject to penalties and interest for any remaining unpaid taxes, along with a $ 300 file penalty for non-compliance .
However, if you owe federal taxes or have other federal debts, the IRS won’t cut your incentive payment to cover those – the only exception is if you owe child support.
Again, if you weren’t required to file a 2018 or 2019 tax return because you wereif you are under 65, you must use the IRS nonfilers tool by Nov. 21 to claim a missing payment.
For those filing tax returns, butnext year, you can declare your payment on your 2020 tax return. (Important caveat: if you filed a tax refund for 2019, don’t use the nonfilers tool even if you weren’t required to, as that will slow down the processing of your declaration and any refund.)
Triple check if you are eligible for a stimulus check
. The overall qualifications for receiving a first stimulus check under the March would probably hold for a second.
This is who qualified for the first round,on your taxes for 2018 or 2019:
- If you are a single filer making less than $ 99,000
- If you register as the head of a household and earn less than $ 146,500
- If you file with your spouse and earn less than $ 198,000
However, there are many exceptions and rules depending on your situation (you can find more). Find out what your stimulus check might look like , , or . And you can use our tool to .