LOUISVILLE, Ky. — President Biden signed the $1.9T coronavirus relief bill on Thursday, March 11. The bill included a third round of stimulus payments to qualifying Americans.
The IRS started sending out the third round of COVID-19 stimulus checks that weekend via direct deposit. The agency said some Americans would see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date on Wednesday, March 17.
On March 17, the IRS said it had sent $90M in stimulus payments to Americans.
WHAS11 started receiving messages and phone calls from some families in Kentucky and Southern Indiana that they had only received only half of their payment.
After further investigation, we learned that the payments were being sent in two parts to families.
Wednesday, March 24, the Treasury Department said another 37 million payments have gone out in its second batch, reaching a total of 127 million so far since the American Rescue Plan was signed.
Here's who qualifies
The American Rescue Plan provides households with $1,400 for each adult, child and adult dependent, such as college students or elderly relatives.
The payments start declining for an individual once adjusted gross income exceeds $75,000 and go to zero once income hits $80,000. The payment starts declining for married couples when income exceeds $150,000 and goes to zero at $160,000.
A qualifying family of four would receive $5,600.
How can you check your stimulus check status?
The “Get My Payment” tool on the IRS.gov website went live on Saturday and can help track your payment and check the status of your money.
The website notes the tool is updated once per day, usually overnight, so there's no need to check multiple times per day.
The "Get My Payment" tool will tell you:
- Payment date
- Payment method (direct deposit or mail) – Note: mail means you may be issued an EIP (debit) card or a check
If your payment status is not available, that means the IRS has not yet processed your payment, or you are not eligible for a payment.
If you get a message that says "Need More Information," that means your payment was returned to the IRS because the post office was unable to deliver it. The IRS said people who got this message will eventually be able to use the tool to provide additional bank account information.
Stimulus checks for 30 million could be coming soon after SSA sends files to IRS
The Social Security Administration has now sent files to the Internal Revenue Service that could free up outstanding stimulus payments to nearly 30 million Americans, lawmakers said Thursday.
Earlier this week, a key House committee asked the IRS and Social Security Administration to explain why the $1,400 stimulus checks from the American Rescue Plan have been slow to get out to people on Social Security and other government programs. On Wednesday, the Democratic leaders on the House Ways and Means Committee demanded the Social Security Administration turn overpayment files to the IRS within 24 hours.
Which dependents qualify for a stimulus check?
Unlike the first and second round of checks, payments for dependents in the third round are not restricted to only children under 17.
According to the IRS website: "Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents and grandparents."
Am I eligible for the third stimulus check?
The American Rescue Plan provides households with $1,400 for each adult, child and adult dependent, such as college students or elderly relatives.
The payments start declining for an individual once adjusted gross income exceeds $75,000 and go to zero once income hits $80,000. The payment starts declining for married couples when income exceeds $150,000 and goes to zero at $160,000.
A qualifying family of four would receive $5,600.
Do college students, adult dependents get the third stimulus check?
Unlike the first and second rounds of checks, payments for dependents in the third round are not restricted to only children under 17.
According to the IRS website: "Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents and grandparents."
Now it's important to note that if you're a dependent, the check won't go to you, it'll go to whoever claims you as a dependent.
When will SSI get their third stimulus check?
A date has yet to be set for when those receiving Social Security and other federal beneficiaries will get their money. Though the IRS has said those recipients will generally receive the third payment the same way as their regular benefits.
The IRS said if someone did not file a tax return and they receive SSA, RRB, SSI or VA benefits and their benefits are currently deposited to a Direct Express card, then the 2021 Economic Impact Payment will be deposited to that card.
Can the $1,400 checks be seized by banks or creditors?
It depends on the type of debt that you have and who would be attempting to collect it. Like the previous rounds of stimulus checks, this aid can NOT be garnished by the federal government or the IRS. But it could be potentially garnished from private companies.
What if I didn't get the first and second stimulus payments?
The IRS said anyone who was eligible to get the first or second stimulus payments but didn't, needs to claim a 2020 Recovery Rebate Credit and file a 2020 tax return. Even if someone isn't required to file? The IRS says yes.
However, the IRS said that the third payment of $1,400 will not be used to calculate the 2020 Recovery Rebate Credit.
If you still have questions, please text us at: 502-582-7290.
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