One of the first concerns among world leaders regarding COVID-19 is how it would impact economies. As we have seen, most places around the world have gone in a shelter in place, or stay at home order. This meant that scores of businesses were forced to shut down and either find alternate ways to conduct business or stop completely. When stores are closed it doesn’t just mean people aren’t spending money, but many folks aren’t making money either.
As a result, the federal government has signed and distributed relief to businesses and individuals. Many people have already received their stimulus check of $1,200, some getting a little more or less, however not everyone received a check. Although the IRS has been working to get as many checks deposited into individuals’ bank accounts, there have been some setbacks. So, we thought we could lead people to some of these answers.
The Two Trillion Dollar Plan
Back in March, Congress, in conjunction with the White House, devised a plan to combat the economic fallout of COVID-19. This came in the form of a two trillion dollar plan to keep small businesses and individuals afloat. Small businesses have the opportunity to apply for loans and other financial help, while individuals are automatically receiving funds. Depending on the information in your 2019 or 2018 taxes, most adults will receive $1,200 from the federal government. For example the IRS will send $1,200 to individuals who make up to $75,000. From $75,000-$99,000, the amount diminishes, and anyone making over $99,000 individually does not receive a stimulus check.
On the other hand, married couples, who make a combined income below $150,000, should expect to receive up to $2,4000. After the $150,000 mark the amount on the check begins to diminish. However the IRS will not send checks to married couples who make a combined income over $198,000. As an additional bonus, the IRS will send an additional $500 per child of an individual or couple.
Who Is Exempt From The Stimulus Check
Outside of individual or combined income, other factors keep the IRS from sending out stimulus funds. The IRS website states a list of exemptions including not having a valid social security number, dependent claims, non citizens, and previous tax filings.
Basically, if you did not file a tax return in 2018 or 2019, you likely will not be receiving a check. However, individuals that use social security benefits or Railroad Retirement recipients who do not normally have to file their tax returns will still receive a check.
Where Is My Check?
So, based on the information above, you qualify for the stimulus check, yet you have not received funds. What can you do, and who can you talk to about getting it sooner. Despite the efforts being made by the IRS, there have been some setbacks to distributing the checks. The easiest way to accomplish a mass distribution is to have the funds directly deposited. However, the IRS does not have everyone’s bank account information, which means some checks will be mailed. As we all know, mail moves much slower than direct deposit, so although the IRS provided timelines, they have not been reliable.
As far as checking the status of your check, you can go on the IRS website and go to the “Get My Payment” page. From there, you will need some information from your previous return and other private information. If you are lucky, the IRS will have an updated status for your funds, however many people receive a message that states their status is unavailable. Unfortunately, the IRS has not provided additional information on how to check on your check’s status beyond that point.
When checking the status of your stimulus check you may encounter an error message stating your payment status is not available. A possible solution to this problem is to enter your street address in all caps. For example if you live on 123 merry lane enter it as 123 MERRY LANE.