Key dates for IRS payments

0
84


SPRINGFIELD, Mo. – The Internal Revenue Service says that more than 88 million payments have been sent to taxpayers across the country, and that more payments will continue to be made in the coming weeks.
Economic impact payments were the first to be sent to Americans under the Coronavirus Aid, Rescue and Economic Security Act (CARES). Those who filed for 2018 or 2019 were among the first to receive payments.
If you’ve verified your account and haven’t found a deposit, you can use the “Get My Payment” tool on the Internal Revenue Service website to check the status of your payment.
According to a Washington Post report, here is a closer look at when you could receive a payment if you are eligible and have not yet received it.

Beginning of May: stimulus payments will give way to those receiving social security retirement and disability benefits, rail retirement benefits, additional security income and VA benefits. These recipients do not need to have filed a recent income tax return to receive payment, and the money will be sent to them by check.
April 24: The first set of paper checks is sent to those who have not received direct deposit payments. People who have not provided information about direct deposit to the IRS should search for a paper check by mail. The IRS will send these checks to their last known address.
Payments will be given in priority to the poorest Americans, starting with those with an adjusted gross income (AGI) of $ 10,000 or less.
April 24-Sept. 4: By September, the IRS will send out about five million paper checks per week, according to The Post.
On May 1, checks were sent to people with incomes above $ 20,000 but below $ 30,000.
On May 8, checks will be sent to people with incomes between $ 30,000 and $ 40,000 will be sent by check. This process will continue every week with checks sent to the next batch of people with AGI $ 10,000 more than the last batch until all the checks have been dispersed. IRS officials believe this will happen by September 4.

September 11: The IRS will send the remaining payments to those who have no advance deposit information.
Those entering their information on the IRS website to verify their dunning check may receive a message stating “Payment status not available”. The message provides a vague explanation that “based on the information we have on file, we cannot determine your eligibility for payment at this time”.
The IRS explains that there are several reasons why you may receive this message:
-If you are not eligible for payment.
-If you have to file an income tax return and did not file it during the 2018 or 2019 taxation year.
-If you have recently filed your declaration or provided information through non-declarants: enter your payment information on IRS.gov. Your payment status will be updated once processing is complete.
-If you are an SSA or RRB Form 1099 beneficiary, beneficiary of SSI or VA benefits – the IRS works with your agency to issue your payment; your information is not yet available in this application.



LEAVE A REPLY

Please enter your comment!
Please enter your name here