Transcript
This week roughly 80 million people received their stimulus payments.
If you have not, that doesn’t mean you won’t get the money but there could be a few reasons for the delay.
One: you didn’t get a federal tax return in 2018 or 2019.
Two: your refund went to an old bank account.
If so, the money was sent back to the IRS and will likely come later by check.
Three: your refund went to a temporary account set up by your tax preparer like TurboTax or H&R Block.
Four: you filed a paper return in 2019.
Many IRS employees are working remotely and stopped processing paper returns until the centers open again.
Five: you are in the low income bracket and not normally required to file a tax return.
Generally these are individuals who earned less than $12,200 last year or married couples who earned less than $24,400.
Six: if you don’t have direct deposit, a check will be sent in the mail and that could take months.
However those who do receive a check will be in possession of a piece of history.
A White House official says President Trump’s name will be on the stimulus checks sent to millions of Americans.
It is the first time a president’s written name has been featured on an IRS check.
The senior administration officials say the decision to add the President’s name won’t cause a delay in expediting the checks.
The process was already set to take up to 20 weeks.
Posted – 4.17.20