Why haven’t you received a coronavirus stimulus check yet? Here’s a few possibilities
The first round of economic impact payments deposited in bank accounts this week have more than a few Americans feeling left in the lurch.
Many have filed their tax returns and think the Internal Revenue Service has their direct deposit information. Others haven’t but were told the IRS would still automatically deposit the funds.
Yet some people from both camps haven’t received their stimulus payments.
The U.S. Department of the Treasury and the IRS said they’re working hard to ensure taxpayers get their money quickly. More than 80 million Americans are expecting to be paid by the end of this week — a fact the Treasury reminded the Washington Post of when they reached out regarding glitches in the system.
“That’s just over half the 150 million payments expected to go out under the Economic Impact Payment program,” the Post reported.
The root of the problem could be any number of factors. Here’s a few that have surfaced.
Outdated information
Some people have moved since filing their tax return and opted in the past to have their refunds mailed as checks. The IRS may be using that old address for their stimulus payments or relying on the postal service if they submitted an address change, Business Insider reported.
“If the latest tax return you filed was for 2018 and the mailing address is no longer accurate, then you need to file a 2019 return to update your address,” according to Business Insider. “There’s no other way to update your address at this time.”
Others have closed the bank accounts listed on their 2018 tax returns and haven’t yet filed for 2019.
That means if their stimulus payments were sent in error to the shuttered account, they will be returned to the IRS and resent via snail mail, Business Insider reported.
The IRS is allowing people to input new bank account information. But CNN reported it won’t work if the agency already has direct deposit information on file from 2018 or 2019 and already processed the stimulus payment.
“Filing a 2019 return now, if you haven’t already done so, is the only way to update direct deposit information that the IRS has on file from a 2018 return,” according to CNN.
Problems with tax preparers
Tax preparation businesses like TurboTax, H&R Block and Jackson Hewitt set up a temporary account to process customers’ refunds so they can extract the relevant fees associated with using their services, CNN reported.
“The IRS does not have these people’s direct deposit information on file if they received an advance on their tax refund from these companies or had the fee for tax preparation taken out of their tax refund,” according to the Washington Post.
But bank information for customers who filed with TurboTax has been transmitted to the IRS as part of their return, a spokesperson for TurboTax told McClatchy News.
“The IRS has the appropriate banking information for all TurboTax filers, which can be used by them to distribute stimulus payments,” the spokesperson said. “This is true regardless of whether a customer chose to receive their refund on a debit card, selected refund transfer or other services.”
According to CNN, a similar issue arose in 2008 and affected about 20 million people.
A spokesperson with the IRS told the Post they /are/ “aware of the problem” and recommended those customers submit their own direct deposit information on the Get My Payment portal. They can also check the status of their payment there.
“The site is updated only once a day, however, and checking multiple times in a single 24-hour period can get you temporarily locked out of the tool,” New York Magazine reported.
According to H&R Block’s website, some Emerald cardholders will have their stimulus payments sent to the card.
“We have been contacting Emerald Card clients with any information we have about their stimulus payment, including reminding Emerald Card clients who no longer have their card that we are here to help and will reissue cards so they can use their stimulus payment,” the website states.
TurboTax told McClatchy any customer “who selects a refund transfer or a debit card that gets a stimulus payment sent from the IRS to those accounts will receive those stimulus payments without delay or fees.”
No prior refunds
Americans who owed the government money on their 2018 or 2019 tax returns and did not receive a refund need to give the IRS their direct deposit information.
“The IRS is not using bank account information it may have used to withdraw from your account if you owed money,” according to CNN.
Those taxpayers can use the Get My Payment portal on the IRS website to input their bank information.
Government program beneficiaries
The IRS doesn’t have the requisite information for people who didn’t file taxes in 2018 or 2019 because their income was too low or if they relied solely on financial aid from the government and don’t need to file.
Those people will have to use the “Non-Filers: Enter Payment Info Here” tool and choose how they want to receive their economic relief payments — direct deposit or mail, Business Insider reported.
According to CNN, the tool also requires they input names, dates of birth and Social Security numbers for all members of the household (filers and their dependents).
Social Security recipients, railroad-service retirees and Supplemental Security Income beneficiaries are eligible to receive stimulus money. Those payments will be automatic.
They should be received “no later than early May,” according to the Treasury.
If they have any dependents under 17 and are expecting the extra $500, however, the Post reported they must submit more information online.
“In order to access those child benefits, you will need to use the tool for non-filers at IRS.gov, and input the Social Security number or Adoption Taxpayer Identification Number of each of your dependents,” according to New York Magazine.
Veterans Affairs beneficiaries are also entitled to economic relief payments.
Business Insider reported the “how” hasn’t been determined, but they can also submit their information using the “Non-Filers: Enter Payment Info Here” tool online in the meantime.
This story was originally published April 17, 2020 at 1:48 PM with the headline "Why haven’t you received a coronavirus stimulus check yet? Here’s a few possibilities."
