The Internal Revenue Service (IRS) is distributing millions more stimulus checks to qualified Americans. The government released another 2.3 million payments last week, including "plus-up" money for those who got less stimulus payments than they were intended to receive.
The IRS had delivered over 169 million payments totaling $395 billion as of June 9. Around July 15, funds will be transferred into bank accounts, and Americans will receive six stimulus checks this year.
By July 1, the IRS has pledged to offer two online tools. Families will be able to update their information from a particular site throughout the year, adding dependents and changing their income.
Families can also claim the money in full next year when they file their 2021 tax returns. The second tool is aimed at low-income American households who do not submit tax returns regularly.
Are there delayed stimulus checks?
According to CBS News, while the most recent stimulus payments started arriving in bank accounts in March, some Americans have had to wait weeks or months for their checks. Because the IRS was able to swiftly verify eligibility based on income and identify where to mail or direct deposit the checks, it prioritized delivering payments to those done filing their 2019 or 2020 tax returns.
Others, though, have had to wait for the IRS to process their payments, such as those who aren't obliged to file tax returns or who have requested changes on their payments. More than 900,000 checks were issued to persons who had just filed a tax return but for whom the IRS didn't have enough information to release the money.
According to the IRS, another 1.1 million payments were for plus-up adjustments for those who were eligible for larger stimulus checks based on freshly completed 2020 tax forms. About 1.2 million payments were submitted by direct deposit, while the remaining 1.1 million were paid through the mail as paper checks, as per the tax agency.
Where's my stimulus check?
Per The Sun, if you're unsure where your stimulus check went, use the IRS's "Get My Payment" online tool to find out. The website tracks where your check is and how much you will get on your bank account.
With the online tool, the current tax returns update includes balance sheets due and history of payment and payments both scheduled and pending. The IRS notes on this site: "If you haven't received a payment yet, it doesn't mean you won't." The IRS says that payments are still in progress.
Note that it is crucial to verify whether the IRS got the correct information about you, including your bank account and direct deposit information if you are waiting for your stimulus check. Submit a Recovery Rebate Credit form if you did not receive cash from the first two rounds of payments.
The IRS websites' Recovery Rebate Credit section provides a step-by-step guide on submitting for the tax credit. Through this, you can claim your missing or delayed money from the previous relief programs.
The IRS is disbursing the funds via direct deposits, physical checks mailed by snail mail, and credit cards. After the payment has been deposited, you should get a notice from the IRS around 15 days later. Check to see whether you qualify for Biden's child tax credit, which will provide qualified families with up to $3,600 per child in the 2021 tax year.
Are there more stimulus payments?
President Joe Biden and members of Congress are now working on the details of the next stimulus bill, with some House and Senate members pressing for an additional stimulus check. However, the White House is referring to Congress on whether or not another round of economic payments should be approved.
In early June, White House press secretary Jen Psaki remarked, "The president is certainly open to a range of ideas. He's also proposed what he thinks is going to be the most effective for the short term," as per CNET via MSN.
Some lawmakers, however, are pushing for greater pandemic relief assistance, either in the form of a one-time direct check or a recurring payment, claiming widespread public and financial analyst support. Others in Washington have suggested that as the economy improves, stimulus spending should go farther down the priority list. According to a recent study, the first three stimulus checks aided in easing difficulties such as food insecurity and financial instability.
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