There's a Little-Known Way to Get That Missing Stimulus Check

Stimulus Check

There's a Little-Known Way to Get That Missing Stimulus Check

For those who must are still missing those much-needed funds, know that all is not lost—they still have options to claim the stimulus money from the first two rounds that they’re entitled to.

Here's What You Need to Remember: With Tax Day now extended to May 17, the IRS is urging all taxpayers to file by that date if they want to claim the money, but if that can't be managed, there's another way. 

The Internal Revenue Service and the Treasury Department so far have sent out more than $380 billion worth of coronavirus stimulus checks to financially wounded Americans.

But it seems that every week, there are dozens of reports of struggling Americans sharing their stories about how they haven’t seen a dime from the U.S. government.

For those who must deal with this unfortunate situation, know that all is not lost—they still have options to claim the stimulus money from the first two rounds that they’re entitled to.

For several weeks now, the IRS has reminded taxpayers that for this particular tax season, a Recovery Rebate Credit has been added to all returns, so that people mired in this unenviable situation can eventually get their hands on the much-needed overdue payments.

The IRS website states: “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.”

Also, take note that with Tax Day now extended to May 17, the IRS is urging all taxpayers to file by that date if they want to claim the money.

However, if that can’t be accomplished, they can still claim the missing checks by filing by the October 15 tax-filing extension deadline. Be aware that if one goes with this route, the stimulus money due to them will take months to arrive and that interest and penalties could continue to accrue on any tax owed.

Other individuals have reportedly received a stimulus confirmation letter—also known as Notice 1444 or Notice 1444-B—from the IRS stating that their check was issued even though they haven’t seen any payment. In this case, they can request an IRS payment trace.

Know that similar action can be taken if the IRS “Get My Payment” tool shows that the payments have been transferred but the balance has not changed at all in the recipient’s bank account.

Furthermore, the IRS has once again reminded all U.S. taxpayers that the income levels in this third round of stimulus payments have changed. What this could potentially mean is that some individuals won’t be eligible for this payment even if they received a first or second stimulus check without any issues.

The details of the $1.9 trillion American Rescue Plan say that those who earn as much as $75,000 in adjusted gross income, or couples making $150,000, qualify for the full $1,400 per individual.

However, an individual with an income of $80,000, or a couple with $160,000, will not be getting any stimulus check this time around.

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.

This article first appeared earlier and is being reposted due to reader interest. 

Image: Reuters