Here’s what to do if your second stimulus check hasn’t arrived yet – Community News
Stimulus Check

Here’s what to do if your second stimulus check hasn’t arrived yet

(NEXSTAR) — If you checked the mail every day while waiting for that $600 stimulus check passed by Congress late last year, you can probably stop stalking the mailman. The Internal Revenue Service confirmed this week that all currently approved stimulus payments have already been sent.

“Legislation required that the second round of payments be issued by January 15, 2021. While some second-round economic-impact payments may still be in the mail, the IRS has issued all first and second economic-impact payments that are legally allowed to be issued from to give,” the agency said in an update to the stimulus fund earlier this week.

That means any approved check that comes your way has probably already arrived.

The agency said the popular “Get My Payment” incentive tool was last updated on Jan. 29 and will not be updated again with details on the first or second stimulus payouts, which the IRS calls Economic Impact Payments.

If you still miss the first or second stimulus payment and see a “payment status not available” notification on the Get My Payment tool, it probably means one of two things.

“Two common reasons are that you haven’t filed a 2018 or 2019 tax return or that your recently filed return hasn’t been fully processed,” the IRS said previously.

If you haven’t received payment or if the amount is less than it should be by the time you file your 2020 tax return, you can claim the amount owed as a chargeback credit.

“The credit is calculated like the Economic Impact Payment, except that the credit rating and amount of credit are based on the information for the 2020 tax year, including income,” according to the IRS.

Since the IRS used 2019 returns to determine the eligibility and amount of the stimulus check, someone whose salary exceeded the maximum threshold in 2019 but lost their job during the pandemic may not be eligible for any of the proposed stimulus checks this year. unless he or she files a 2020 tax return claiming the credit.

Negotiations on a potential third stimulus check are underway, and the amount received on that check may be based on your 2020 application, depending on how and when the negotiations are finalized. That means it may make sense to file before reaching the next deal to ensure your future check takes into account reduced income in 2020.

Whether you get a third check will depend on which direction Biden and Democratic leaders decide to go, as the proposal goes through committees in the coming weeks, with the goal of finalizing additional relief efforts by mid-March. From now on, lawmakers will have a break until next week.

The latest plan shows that people who make $75,000 or less will receive the full payment of $1,400. That means a couple with an income of less than $150,000 would receive $2,800.

The Associated Press contributed to this report.

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