Even as the IRS sends out regular $1,400 stimulus checks every week, many Americans have the wrong address and bank details in the IRS records. But the authorities have assured that they will continue to make concerted efforts to overcome these issues.
A majority of the stimulus payments have already gone out, mostly through direct transfer into bank accounts. The IRS is now sending out the payments through the US postal service, either in the form of debit cards or paper checks.
But not updating your latest home address could delay your stimulus check by several weeks. The IRS had set up the non-filers app last year to overcome this problem in the initial round. But the tool is inactive now.
Updating Information For The Third Stimulus Check
The best way for updating information was through filing the 2020 tax returns. People who got an initial stimulus check based on their 2019 tax returns received a second plus-up payment based on the 2020 returns filed later.
You have the option of entering your latest Adjusted Gross Income, which determines the amount of your check. You can also enter the latest list of your dependents, including the birth or adoption of a child last year.
The 2020 tax returns also enabled you to file a Recovery Rebate Credit to recover any pending amount from the first and second stimulus check.
Getting The Third Stimulus Check Without A Permanent Address Or Bank Account
The IRS has reiterated that people can claim their third Economic Impact Payment through the Recovery Rebate Credit even without a permanent residential address.
One way would be to share the address of any relative, friend, or service provider. It could be a day center, shelter, or housing program, mentioned in the tax return. The checks can be mailed here, even if the person has no bank account or a debit card.
You can also log in to the Get My Payment tracker to enter fresh bank details if no details have been entered before. You can provide a routing and account number.
Around 7M people have no financial or bank account. But many banks and other financial institutions are willing to help people open low-cost accounts. This will enable people to apply for direct payment into their accounts.
The Federal Deposit Insurance Corporation has identified over 70 credit unions and banks willing to offer low-cost and even free accounts. People who have a debit card have the option of getting their stimulus payment through credit transfer to this card, but only if it is a prepaid one.
