Some people have reported that they have not yet received the third stimulus check. Almost 130 million individuals have received the third round of stimulus payments. It has a maximum value of 1400 USD for singles, 2800 USD for couples, and 1400 USD per dependent. If you did not receive it, some of the most possible reasons for that are listed below.
Qualifications For The Stimulus Check
Similar to the first two rounds, the third stimulus check payment is not for everyone. For the full amount to be received, the annual income has to be below a certain threshold. For singles, it is 75000 USD, for household heads 112500 USD, and it is 150000 USD for joint filers. There is a maximum threshold as well for receiving any payment. For singles, the amount is 80000 USD, 120000 USD for household heads, and 160000 USD for joint filers.
The IRS has stated that most of the stimulus checks are being paid via direct deposit into your account. However, in case this is not possible, the payment may be done through a usual check or a pre-paid debit card.
Furthermore, stimulus checks are not paid out simultaneously. This implies that your friends and relatives may get it before you. Having your bank details submitted to the IRS will speed up the payment via direct deposit. Otherwise, any physical mail is being sent out in batches over time. Social security beneficiaries have also had their payments delayed because the body was not able to give the payment information to the IRS until recently.
The payment may have also been seized due to existing debts. Since the recent bill was passed under special budget reconciliation rules, Congress could not impose the freedom that the previous two payments had. However, the President has assured that legislation reversing the seizure is in the works.
Finally, a tax return is necessary for the IRS to know about your financial situation and calculate the payment to be given.
