A new survey shows that about 1 in 4 Americans had problems in receiving their stimulus check during the coronavirus pandemic. The economic impact payments issued in response to the outbreak's economic damage were distributed hastily, and many people were frustrated by the process. About a quarter of those eligible ran into problems, according to MagnifyMoney.com.
The survey polled over 1,000 Americans to interpret their stimulus check experience. Many respondents said that they believed they qualified for a stimulus check, yet they never received one. That made up about 41 percent of those with issues, while another 13 percent said that they did receive their economic impact payment, but that it "barely made a dent" in their financial standing. In fact, about 27 percent of respondents said that they are "counting on" another stimulus check before this crisis is over.
Whether or not they get one remains in question, as lawmakers debate various proposals for another coronavirus relief bill in the United States Senate and the U.S. Congress. MagnifyMoney.com found that the demographic counting on another stimulus check the most is parents, particularly those with underage children. About 41 percent of them said they "need" that money to buoy them through these uncertain times.
Another commonly reported issue with stimulus checks was not receiving one, but getting the wrong amount of money. Surprisingly, about 24 percent of people said that they got more money than they should have, while about 15 percent said they got less. Either way, this causes confusion and leaves people uncertain about what to do next.
People in the survey also said that they got checks for deceased family members, while others reported that they did not think they qualified for a payment, but they received one anyway. Finally, about 8 percent of people surveyed said that they had some kind of other problem with their check.
Stimulus checks were approved by the CARES Act back in March, charging the Treasury Department with issuing the payments. The department handled the job through the IRS, using information included in 2018 and 2019 tax filings. For those with incorrect or incomplete information on their most recent tax forms, the IRS launched a new website where users could update their banking information or mailing address.
Naturally, this led to a wide range of technical problems, and the IRS could not handle them all. Still, millions of checks were sent out, though a few million remain in limbo. For the latest information on your stimulus check, visit the IRS' Get My Payment website.