Hi Readers! If you’re one of the millions of Americans eagerly awaiting your stimulus check from the government, you may be wondering why it hasn’t arrived yet. The good news is that there are several steps in My Stimulus Check which you can take to track down your payment and get the money you’re owed.
First, make sure you’re eligible for a stimulus check. The government has issued payments to individuals earning less than $75,000 a year and couples earning less than $150,000 a year. If you meet these criteria and still need to receive your payment, it’s time to take action.
What are Stimulus Checks?
A stimulus check is a payment made by the government to individuals to stimulate the economy and provide financial relief during economic hardship. These payments are typically distributed during times of economic downturn, such as during a recession or a pandemic.
In the United States, stimulus checks are typically distributed by the Internal Revenue Service (IRS) and are often part of a larger economic stimulus package passed by Congress. The most recent examples of stimulus checks in the United States were distributed as part of the COVID-19 relief bills passed in 2020 and 2021. These checks were intended to provide financial relief to individuals and families experiencing economic hardship due to the pandemic. The amount of the stimulus check varies depending on the specific legislation and eligibility requirements but typically ranges from a few hundred to several thousand dollars per individual.
Also Read:
- How to Report Money in Foreign Bank Accounts, FBAR?
- Winzo App Download – Login, Register, Latest Version Apk
First Stimulus Check
The First and Second Stimulus Check are part of the US government’s efforts to provide financial relief to individuals and families affected by the COVID-19 pandemic.
The first stimulus check was authorized in March 2020 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Eligible individuals received up to $1,200, while couples who filed jointly received up to $2,400, with an additional $500 per child under 17 years old. The payment amount was reduced for individuals with adjusted gross incomes over $75,000 or $150,000 for couples who filed jointly.
Second Stimulus Check
The second stimulus check was authorized in December 2020 as part of the Consolidated Appropriations Act 2021. Eligible individuals received up to $600, while couples who filed jointly received up to $1,200, with an additional $600 per child under 17 years old. The payment amount was reduced for individuals with adjusted gross incomes over $75,000 or $150,000 for couples who filed jointly.
It’s worth noting that eligibility requirements and payment amounts may vary depending on specific circumstances, such as income level, filing status, and the number of dependents. The Internal Revenue Service (IRS) handled the payment distribution, and many recipients received their payments via direct deposit or check.
Third Stimulus Check
The Third Stimulus Check, also known as the American Rescue Plan, is the latest round of direct payments authorized by the US government to provide financial relief to individuals and families affected by the COVID-19 pandemic.
The American Rescue Plan was signed into law on March 11, 2021, and provides eligible individuals with up to $1,400, while couples who filed jointly can receive up to $2,800, with an additional $1,400 per dependent. The payment amount is reduced for individuals with adjusted gross incomes over $75,000 or $150,000 for couples who filed jointly. It is phased out completely for individuals with incomes over $80,000 or couples with incomes over $160,000.
The eligibility requirements for the Third Stimulus Check are similar to the previous rounds, with most US citizens and permanent residents who have a valid Social Security number and meet income requirements being eligible to receive the payment. The Internal Revenue Service (IRS) handles the payment distribution, and many recipients receive their payments via direct deposit or check.
Fourth Stimulus Check
The decision to provide additional economic relief to individuals and families is up to the government. It is subject to various factors, such as the state of the economy and the ongoing COVID-19 pandemic.
However, it is worth noting that discussions about a fourth stimulus check are ongoing in Congress. In March 2021, President Joe Biden signed the American Rescue Plan, which included a third round of stimulus payments to eligible Americans. While there has not been a confirmed decision on a fourth stimulus check, it remains a topic of debate and discussion.
How to Find the Amounts in Stimulus Check?
The amount of the stimulus check depends on several factors, including the eligibility criteria, filing status, and income level of the individual or household.
- The essential eligibility criteria were similar for the previous three rounds of stimulus checks.
- Individuals with an adjusted gross income (AGI) of up to $75,000 and married couples filing jointly with an AGI of up to $150,000 were eligible for the entire stimulus payment. The payment amount was gradually reduced for individuals earning above $75,000 and married couples earning above $150,000.
- Individuals earning above $80,000 and married couples earning above $160,000 were not eligible for the payment.
- Individuals can use the online tools provided by the Internal Revenue Service (IRS) to determine the exact amount of the stimulus payment for each round.
- The IRS has a “Get My Payment” tool on its website where individuals can check their payment status and find out the amount they will receive.
It is important to note that the eligibility criteria and payment amount for potential future stimulus checks may differ from the previous rounds.
Where’s My Stimulus Check?
To check the status of your stimulus check, you can use the “Get My Payment” tool provided by the Internal Revenue Service (IRS) on their website. Here’s how to use the tool:
- Go to the IRS website at www.irs.gov and click the “Get My Payment” button.
- Enter your Social Security number or Individual Taxpayer Identification Number, date of birth, street address, and ZIP code.
- Click on the “Continue” button to access your payment status.
The tool will provide you with information about your payment status, including the payment date and payment method (e.g., direct deposit or mailed check). If the tool shows that your payment has been processed, but you have yet to receive it, you may need to wait a few more days for the payment to arrive.
If you still need help with your stimulus check, call the IRS Economic Impact Payment Information Center at 1-800-919-9835 for assistance.
How to get a stimulus check for 2023?
The first thing you should do is check your payment status using the IRS’s “Get My Payment” tool. This online tool lets you track your payment and see when it will arrive. If the tool shows that your payment has been sent, but you still need to receive it, you may need to contact the IRS directly.
Another option is to contact your bank or financial institution. Some banks have reported delays in processing stimulus payments, so it’s worth checking with your bank to see if there’s any issue.
If all else fails, you can contact the IRS directly to inquire about your payment. The IRS has set up a special hotline for stimulus check inquiries, which can be reached at 1-800-919-9835. Be prepared to provide your Social Security number and other identifying information to verify your identity.
What is the process for claiming the Recovery Rebate Credit on tax returns?
To claim the Recovery Rebate Credit on your tax return, you will need to file Form 1040 or 1040-SR and include the amount of any stimulus payments you received as advance payments of the credit on your tax return.
Here’s how to claim the Recovery Rebate Credit:
- Obtain your Notice 1444, which shows the amount of the stimulus payment you received.
- Use the amount of the stimulus payment you received to fill out Line 30 of the 2021 Form 1040 or Form 1040-SR.
- If you did not receive the total amount of the stimulus payment you were eligible for, you could claim the difference as a Recovery Rebate Credit.
- If you received the total amount of the stimulus payment, you do not need to take further action to claim the credit.
If you are not required to file a tax return, you may still be eligible to claim the Recovery Rebate Credit. You can use the IRS Non-Filers tool to provide the IRS with the information they need to determine your eligibility for the credit.
If you have any questions or need assistance with claiming the Recovery Rebate Credit on your tax return, you can seek help from a tax professional or contact the IRS for assistance.
Why have I yet to get my stimulus?
You may still need to receive your stimulus payment for several reasons. Here are some possible reasons:
Processing delays:
The IRS may be experiencing processing delays due to the high volume of payments they are processing.
Eligibility issues:
You may not be eligible for the stimulus payment based on your income or other factors.
Incorrect or outdated information:
The IRS may need to have your correct banking information or mailing address, which can cause a delay in receiving your payment.
Non-filing of tax return:
If you did not file a tax return in the past two years or did not register for the non-filers tool last year, the IRS may need your information to issue the payment.
Fraud or identity theft:
If someone else has fraudulently claimed your payment, this could cause a delay in receiving your payment.
Conclusion
Remember, stimulus payments are an essential source of financial relief for many Americans during this difficult time. If you haven’t received your payment yet, don’t give up hope. With a bit of persistence and patience, you should be able to track down your stimulus check and get the money you’re owed.
To read more blogs, click here.
