The IRS still owes roughly 9 million Americans their original stimulus checks. If you still haven’t received your $1,200 payment and think you are eligible, you should keep a lookout for a letter from the IRS that will be sent later this month.
As The Washington Post pointed out in a recent article, those “who don’t typically file a tax return or don’t receive certain federal benefits” have until October 15 to use this non-filers tool and claim their payment. These individuals, under the CARES Act, must receive their payments by December 31. If they don’t, they will need to file a 2020 federal return in 2021.
The non-filers tool is used to determine eligibility and payment amount, and to send out Economic Impact Payments.
Here’s what you need to know:
The IRS will begin sending letters, called the IRS Notice 1444-A, around September 24, according to CNET.
The outlet reported, “If you were required to file your federal taxes but didn’t, the letter directs you to electronically file your 2019 tax return immediately and then use the IRS’ Get My Payment to check the status of your payment.”
The following are eligible for an Economic Impact Payment, according to the IRS website:
– Those who have a valid social security number
– Those who could not be claimed as a dependent of another taxpayer
– Those who had an adjusted gross income under certain limits
Specifically, the non-filers tool should be used by the following:
– Those whose income is less than $12,200
– Those who are married and filing jointly with an income less than $24,400
– Those who have no income
Will There Be a Second Stimulus Check?
The hundreds of millions of Americans who have already received their stimulus checks are curious if another one is on its way.
At this time, it’s unclear whether you can expect to see another Economic Impact Payment in your bank accounts.
Negotiations on the details of a stimulus package (which would potentially include a second stimulus check) have reached an impasse, with both sides of the aisle failing to agree on the parameters of a bill. Thus, while Democrats, Republicans, and President Donald Trump have all vocalized support for a second round of stimulus checks, they are unable to iron out the details of a package that would make a second check possible.
This week, the Senate proposed a ‘skinny’ bill, and it did not move forward after failing to receive the 60 votes needed to pass in the senate. Democrats were poised to dismiss the bill even before voting began. On Thursday, Senate Minority Leader Chuck Schumer stated, “Here now in September, Republicans finally felt the public pressure to support a bill. But instead of working with Democrats on something that could pass, our friends on the other side tried to find the bare minimum that Senate Republicans could support.”
Will negotiations for a second stimulus check continue?
Speaking to the Washington Post, Senator Pat Roberts recently said, “It’s sort of a dead-end street… Very unfortunate, but it is what it is.”
And in the words of Forbes, it’s “not clear whether there will be any more federal coronavirus relief any time soon.”
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