Even though the Internal Revenue Service has not released any new updates, many Americans are still waiting for the crucial $1,400 coronavirus stimulus checks, which form a key part of President Joe Biden’s $1.9 trillion American Rescue Plan.
Recent estimates indicate that around one hundred seventy million checks, totaling approximately $400 billion, have already been distributed to eligible Americans since the stimulus bill was passed in the spring. However, between five and ten percent of those eligible have yet to see this direct cash deposited in their bank accounts.
Available Options
It is important to remember that there are still options for those who have not yet received their third round of stimulus funds. It might be time to reach out to a live representative by calling the IRS Economic Impact Payment phone number at 800-919-9835.
While many callers may face long wait times, for some individuals, this is a necessary course of action.
Be aware that the IRS is currently managing multiple responsibilities, including processing thirty-five million tax returns. As per the agency’s website, “IRS live phone assistance is extremely limited at this time.”
Filing Tax Returns
Those individuals who have recently filed their tax returns may notice that the funds were deposited into their accounts within a few weeks. The IRS has urged Americans to file an extension and complete their returns if they haven’t yet done so.
The IRS states, “Although payments are automatic for most people, the IRS continues to encourage individuals who do not typically file a tax return and haven’t received Economic Impact Payments to file a 2020 tax return to access all benefits they are entitled to under the law, including tax credits such as the 2020 Recovery Rebate Credit, the Child Tax Credit, and the Earned Income Tax Credit.”
Filing a tax return is also essential for recovering any missed stimulus checks from the previous two rounds, as the convenient Recovery Rebate Credit is included in the forms.
The IRS further notes, “If you didn’t receive any payments or received less than the full amounts, you may qualify for the Recovery Rebate Credit and are required to file a 2020 tax return to claim the credit even if you don’t typically file.”
Most eligible Americans should have received a confirmation letter, termed Notice 1444, from the IRS confirming that their stimulus check was issued. If this letter is missing, individuals should promptly request an IRS payment trace.
This same procedure can also be initiated if the IRS “Get My Payment” tool indicates that payments have been transferred but the recipient’s bank account balance has not reflected those funds.
Ethen Kim Lieser is a Science and Tech Editor based in Washington state, with experience at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Connect with him on LinkedIn.
Image: Reuters
