If your $600 stimulus payment (also referred to as the second economic impact payment, or EIP2) still hasn’t arrived in your bank account or mailbox, you may be wondering if you should wait to file your tax return. After all, you’ve likely heard of the Recovery Rebate Credit (RRC) by now, which lets taxpayers claim missing stimulus…
Category Archives: Stimulus Payment
How Does My Stimulus Payment Affect My 2020 Tax Return?
Now that many taxpayers have received (and most likely spent) their Economic Impact Payments (EIPs), they’re wondering how that extra cash is going to affect tax returns in the winter and spring of 2021. Let’s go over the basics and some common questions about how your stimulus payment will affect your 2020 taxes. How do…
What to Do If Your Stimulus Check is Lost, Stolen, or Destroyed
If your stimulus check is lost in the mail, or something else happens to it before you get it, you can ask the IRS to trace your payment. It’s bad enough if a new shirt you ordered on Amazon gets lost in the mail – but you’re really going to get mad if the post…
Parents Can Get $300 Every Month For Each Kid In New Stimulus Proposal
This week, Congress will start working on a stimulus package proposed by President Biden. The relief bill will likely include a stimulus check worth $1,400 that will go out to millions of Americans, but that’s not the only financial benefit the legislation might boast. According to the Washington Post, House Democrats have drafted a proposal that will see the…
Why Millions Of Taxpayers Have Not Received 2nd Stimulus Check
Millions of taxpayers have not received their 2nd stimulus check who used online services. Their 2nd stimulus check may have been sent to the wrong bank account. The IRS apparently sent payments to more than thirteen million bank accounts that have been closed and are no longer valid. The bank accounts were set up by…
Round 2: Economic Impact Payments
The Internal Revenue Service today urged people to visit IRS.gov for the most current information on the second round of Economic Impact Payments rather than calling the agency or their financial institutions or tax software providers. IRS phone assistors do not have additional information beyond what’s available on IRS.gov. The IRS and the Treasury Department…
IRS enhances Get My Payment online application to help taxpayers
The IRS announced significant enhancements to the “Get My Payment” tool to deliver an improved and smoother experience for taxpayers eligible to receive Economic Impact Payments. The enhancements adjusted several items related to the online tool, which debuted on April 15. The additional changes will help millions of additional taxpayers with new or expanded information and access to…
Get My Payment Status
The Internal Revenue Service went live with its “Get My Payment” portal Wednesday, April 15th. This is the much-anticipated tool where you can get information on the status of your federal stimulus payment as well as provide direct deposit information so that you can receive your portion of the stimulus payment quicker rather than wait months for a…
IRS rolls out “Get My Payment” an official tool for tracking stimulus payments
The U.S. Department of the Treasury and IRS launched the “Get My Payment” web application. The FREE app allows taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on either return to submit direct deposit information. Once they do, they will get their Economic Impact Payments deposited directly in…
80 million Americans will receive a Stimulus Payment deposit by Wednesday, April 15
Millions of Americans are starting to see Economic Impact Payments deposited directly in their bank accounts. The U.S. Department of the Treasury and IRS expect tens of millions of Americans will receive their payments via direct deposit by Wednesday, April 15. These payments are being automatically issued to eligible 2019 or 2018 federal tax return…