By now, the IRS and Treasury Department haveof the to and . What do we mean by that? We’ll tell you, and we’ll also explain what you need to do to claim your stimulus payment (at this point, the ) as part of the tax-filing season that starts Feb. 12. For example, what can you do if you but the IRS didn’t send
Or what happens if your check is held up by one of the? We’ll go over that, too, plus how to , what and what to do if you don’t by next week.
Along with this second payment, acould be close behind. On Thursday, introduced a that would include a . Here are the details you need. This has been updated with new information.
The IRS has stopped delivering $600 stimulus checks
payments had a Jan. 15 cutoff as part of December’s bill authorizing the money. As a result, there are now — those that arrived before the deadline, and those that have to be reconciled from here on out.
Some more resources:
Does that mean I can’t get my stimulus payment?
You haven’t missed your opportunity to get your second stimulus payment, though at this point it may not come in the usual way you recognize. If you don’t get your second check shortly after Jan. 15 (it could take a few days in the mail,)will in 2021. Feb. 12 is the first day you can file. The later you file taxes, the longer it might take to .
There are two ways to track your second stimulus money
If you’re missing your first check and waiting for your second, there are two things you can do to get some visibility into what’s going on. The first is to use the. The online application can show if there’s an issue that’s . Make sure you read our , since it isn’t always completely straightforward.
The second method, which is specifically for people who are gettingand , is to sign up for a and lets you know when it’s coming. That takes the guesswork out of the whole operation.
Third stimulus check proposals are now for $1,400, $2,000
On Thursday night, Biden sketched out a framework for his administration’sand has . This is clearly less than the and discussed earlier this month.
Biden’s proposal isn’t a given, and there may be an extended runway between the $1,400 suggestion now and the final dollar amount that passes. That figure, and any, would be points of negotiation and debate . Here are all the ways you could .
If I have a problem with my stimulus payment, should I call the IRS?
When the IRS facilitated sending the first stimulus checks, it sent a letter with phone numbers to call if you ran into trouble. The agency also staffed up call center representatives. That’s not the case this time around. Instead, the IRS wants you to claim your missing money using theas and use online tools. It tells you not to call. Here’s how to .
Qualifications for dependents changed in the second check and could change in the third
The second stimulus check gave households a $100 raise on the amount given, a flat rate of $600. Compared to the first direct payment, this is an increase from $500 per child dependent 16 years or younger. There is no cap on the number of children 17 and under who would contribute the household’s total.
A third check could potentiallyagain, but expanding the definition to dependents of all ages, according to . (Here’s who the .)
If you don’t file taxes, you could still get a stimulus check
While, you don’t need to have filed a tax return to qualify for a check. If you’re over age 65, for example, and receive , you could still qualify for a stimulus check under the CARES Act. You might need to take an extra step to request your payment to get your check if you don’t receive it automatically during tax season.
Your stimulus money doesn’t count as taxable income
The IRS. That means a payment you get this year won’t reduce your refund in 2021 or increase the amount you owe when you file your 2020 tax return. You also won’t have to repay part of your stimulus check if you qualify for a lower amount this year. The IRS said if you didn’t receive everything you were owed this year, you can claim it as a credit on your 2020 federal income tax return by filing in this year.
Qualifications aren’t simple. Some rules and exceptions to know
When it comes to stimulus checks, small details, rules and exceptions can be confusing. While some situations will be easy to understand, others concerning you and your dependents might make it unclear if you’re eligible and how much money you might receive.
This time, your stimulus money will not be seized for rent or debt
In most cases, your check is yoursand it isn’t taxable. But there were a few situations where the state or federal government or a debt collector can take to cover a debt, such as if you . However, with the second check, the money can’t be used to pay past-due federal or state debts, and the payments are protected from bank garnishment and from private creditors or debt collectors.