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Home / Tips and Tricks / Have you not received a stimulus payment? You may need to do this – LifeSavvy

Have you not received a stimulus payment? You may need to do this – LifeSavvy



  A valuable check nestled between one hundred dollar bills.
Jason Raff / Shutterstock

If you have not received a direct tax refund from the federal government, take an extra step to ensure that you are promoting your CARES law on electronic money.

When news of the CARES law and individual economic impact payments broke, it was emphasized that if people had already filed their taxes, they would receive the money automatically. That's true, but there is a small overlooked catch in terms of how that money is delivered.

Many people thought, "I paid my taxes electronically, which is why the IRS has my bank details." However, paying the IRS from your bank account by direct debit does not authorize the IRS to store that information or deposit money into your account.

If you owed money to the federal government, even if you paid your tax bill electronically, you still need to visit the IRS portal and provide your banking information. Once you do this, you will receive your economic impact payment electronically and skip the long wait for a paper check.

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