It appears that the Internal Revenue Service and U.S. Treasury have made good on their promise to ramp up efforts to provide much-needed cash to millions of financially struggling Americans.
However, amid the rush to get the stimulus money quickly out to those most affected by the ongoing pandemic, there reportedly have been some instances of recipients getting much less than what they were expecting.
To help you gauge what you are entitled to, you can calculate what your check should be here. Know that if your stimulus check did fall short—which can occur if it doesn’t include the necessary payments for a certain dependent—you can indeed take action.
According to the IRS website, it states that “if you didn’t get any payments or got less than the full amounts, you may qualify for the Recovery Rebate Credit and must file a 2020 tax return to claim the credit even if you don’t normally file.”
The agency also advises that you keep the form you receive regarding your stimulus payment and refer to it when you file your tax return.
For married folks out there, be aware that the IRS has admitted that some couples are receiving their stimulus checks in two separate payments. According to the agency, the reason is apparently due to a glitch in the system that divides the payments for married couples in which one individual has filed an injured spousal claim.
The IRS has assured the public that the second half of the payment may arrive in the same week or within weeks of the first payment, adding that these couples can check the status of their payments using the IRS “Get My Payment” tool at www.irs.gov/coronavirus/get-my-payment.
As for the current third batch of four million stimulus checks, keep in mind that it is the first one that includes “plus-up” or supplemental payments for those who only received partial $1,400 payments on an earlier date.
“This batch includes the first of ongoing supplemental payments for people who earlier in March received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns,” the IRS said in a statement.
“These ‘plus-up’ payments could include a situation where a person’s income dropped in 2020 compared to 2019, or a person had a new child or dependent on their 2020 tax return, and other situations.”
Payments were also issued to those who recently filed tax returns in order to qualify for the stimulus money, due to the fact that the IRS did not have their necessary information on record. These checks will continue to go out on a weekly basis going forward, according to the agency.
Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.