Payment Status #2 Not Available: How to Get Your Stimulus Check? – Community News
Stimulus Check

Payment Status #2 Not Available: How to Get Your Stimulus Check?

Did you see ‘Payment Status #2 – Not Available’ when tracking your stimulus check? You are not alone! Here’s what that means for the timeline to receive your $600.

WASHINGTON — The IRS launched its ‘Get My Payment’ portal Monday so anyone can track the status of their second coronavirus incentive payment.

Many Americans had already received their $600 payment via direct deposit before the tracker went online — but many didn’t and still don’t.

You can visit the stimulus payment tracker page here to check the status of your payment. You must enter your social security number, date of birth and address to find out the status.

If you’re still waiting, there’s a chance it will still be shipped to you, but you may also have to wait until you’ve filed your tax return to get your incentive money. This is why:

No direct deposit received

The IRS said there could be several reasons why someone has not yet received a second stimulus check. It includes the following:

If you checked the Get My Payment tool on or after January 5:

  • If the online tool displays an instant deposit date and partial account information, your payment will be deposited there.
  • If there is a date when your payment was sent, it can take up to 3 – 4 weeks for you to receive the payment. Watch your mail carefully for a check or debit card. Do not accidentally throw away the debit card!
  • If the online tool shows “Payment Status #2 – Not Available,” you won’t receive a second Economic Impact payment by mail or direct deposit, and you should instead claim the recovery discount credit on your 2020 tax return, according to them.

‘Payment Status #2 – Not Available’ message

The IRS tool may display a “Payment Status #2 – Not Available” message when you try to take your second coronavirus stimulus check. So, what does it mean?

The IRS said anyone who sees this message will not receive a second Economic Impact Payment by mail or direct deposit and should instead “claim the Recovery Rebate credit on your 2020 tax return.”

That’s because the stimulus package that included the $600 checks gave the IRS a January 15 deadline to make stimulus payments via direct deposit, paper checks and debit cards.

Due to the speed with which the law required the IRS to issue the second round of Economic Impact Payments, it is possible that some payments have been sent to an account that may have been closed or no longer active or unknown.

By law, the financial institution must return the payment to the IRS; they cannot hold the payment and issue it to a person when the account is no longer active.

If the IRS tracker shows “Payment Status #2 – Not Available”, you will not receive a second Economic Impact payment at this time.

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The IRS advises people that if they do not receive their Economic Impact Payment, they should file their 2020 tax returns electronically and claim the Recovery Rebate Credit on their tax return to receive their payment and any refund as soon as possible.

Credit for recovery discount

The IRS explains that if a person has not received a full stimulus payment by the time they file their 2020 tax return, they can claim the “clawback credit” on their tax return.

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

For anyone who has received only partial economic impact payment, the recovery discount credit can be used toward the remaining amount for which they are eligible by completing line 30 of the 2020 Form 1040 or 1040-SR.

Payment was lower than it should have been OR why didn’t I get extra money for having a dependent/child?

Remember, the IRS bases your income on your 2019 tax returns. New parents will not receive a check for their newest family member because the incentive checks are based on 2019 tax returns. These parents will eventually be able to receive this money when they file their 2020 tax returns.

The second round of stimulus checks this time costs $600 for an eligible individual. That’s half of what they got in the first round of stimulus checks. A couple applying jointly will be eligible for $1,200, assuming their income qualifies.

CALCULATOR: Here is a tool of Omni Calculator that can help you determine how much you could receive

A couple or individual can also collect an additional $600 for each person under the age of 17.

As with the first round of stimulus checks, there are income requirements. An individual must have earned less than $75,000 on their tax returns in 2019 to receive the full $600 check. For additional earnings, the check begins to gradually expire and becomes zero at $87,000.

Meanwhile, couples will receive the full check for $1,200 if they have earned less than $150,000 on their tax returns in 2019. This check will gradually fade above that income level, reaching zero at $174,000.

More IRS Stimulus Check information:

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