With millions of Americans having received their stimulus payment from the government in attempt to mitigate the economic fallout from the coronavirus pandemic, there are still millions more waiting on and wondering about where their money is.
The government estimates 90 million of the 150 million people eligible for the stimulus money had received their payment as of April 17, with about 5 million estimated physical checks being sent out a week to people waiting. A major factor in the speed at which people are receiving their payments is if the Internal Revenue Service previously had their direct deposit information on file, mostly because they were due a refund on either their 2018 or 2019 federal tax returns. However, plenty of other factors play into the checks' payout — keep scrolling to read about the most common ones.
For the estimated 6 million Americans who are not required to file a tax return every year because they do not make enough money, their much-needed stimulus check is likely delayed because the IRS does not have their direct deposit or contact information immediately on hand.
In order to get these people their economic impact checks as soon as possible, the IRS has instituted a new form on its website designated for non-filers. By inputting basic information including names, dates of birth and Social Security numbers of dependents there, individuals and families can ensure their stimulus check is on the way to the correct place. Note that this is a separate page from the Get My Payment portal, and is specific to those who have not filed a tax return in the last two years.
People receiving government funds
As millions of recipients of Social Security benefits who aren't required to file taxes begin to get their stimulus payments either in the mail or via direct deposit, others may still be waiting for their checks to arrive in the next couple of weeks. People who receive Supplemental Security Income recipients and also don't file tax returns are slightly behind that on the distribution chain, but are assured they can expect to see the money in May.
Both of these groups qualify for an extra $500 per dependent if they have children, but will not see this money reflected in their payment until next year unless they give dependent information to the IRS. Supplemental Security Income recipients have until May 5 to input their information online here, but the deadline for Social Security recipients has already passed. They will have to file a full return in 2021 to get the additional money.
There are many veterans who fall into the same category. Low-income veterans who receive pensions from the Department of Veterans Affairs and who are not required to file tax returns are also expected to receive their payments in May and have the same deadline as people receiving Supplemental Security Income to declare a dependent in order to get their due $500. Low-income veterans have until May 5 to input their dependent information online here.
Many people who are self-employed have also seen their payment delayed. Often end up owing the IRS money at the end of each tax year, many of these people have not provided their direct deposit information to the agency in the last two filing years, preventing them from receiving the first round of payments.
People who suspect the IRS does not have their direct account information can enter it on the Get My Payment portal, but may have to wait for a paper check to be mailed to their residence.
Outdated bank info
Many people have also reported getting notice that the IRS attempted to deposit their payment in a closed bank account they previously had on file, forcing the bank to send the money back to the IRS. In this case, people are being advised to await their check in the mail and to check their payment's status on the Get My Payment portal.
Some people who haven't received their payment at this point might want to check the stimulus parameters, as they may be ineligible based on income or other status. Eligibility is mostly based on income, excluding individuals earning more than $99,000 a year, head of household filers with one child who earn more than $136,500, and married couples without children earning more than $198,000 collectively.
Other people who have been coined ineligible are those who can be claimed as dependent for tax purposes, such as many college students, as well as undocumented immigrants who don't have Social Security numbers.
Other people still waiting on a payment who don't fall into any of the previous boxes may simply have to be patient and keep their eye on the Get My Payment app, although data is input only once a day overnight. The money could take months to be distributed, with the government announcing it can process about 5 million checks a week.