Millions more stimulus checks sent: How to track your money, plus-up payment and more



While a fourth direct stimulus payment remains under debate in Washington, the third checks and extra “plus-up” money are still in season. The most recent round of 2.3 million payments amounted to $4.2 billion total. Next month, qualifying families will also be receiving another kind of stimulus cash: advance monthly payments for the 2021 expanded child tax credit.

On top of sending out tax refunds (with some delays), the IRS is issuing plus-up payments to those who didn’t get the correct amount of their stimulus check. That could be due to a calculation error with the IRS, but not necessarily. If the IRS reviews your tax forms and determines that you in fact qualify for a larger share of stimulus money than was disbursed, the agency owes you the difference.

If your $1,400 never arrived, we’ll explain how to track the status of your payment and report a problem. We can also help you calculate your upcoming child tax credit payments, explain three ways to know if you qualify and why two letters from the IRS could land in your mailbox. As for other personal finance news, the IRS sending unemployment tax refunds to millions. This story gets frequent updates.

 Stimulus checks and plus-up payments are still being sent

The IRS Is making weekly batches of payments, and included in this latest wave are 900,000 checks for a total of $1.9 billion to those who recently filed a tax return, allowing the IRS to determine they were eligible for a payment. The IRS also sent in the batch of 1.1 million plus-up payments, for more than $2.5 billion.

What are plus-up stimulus payments? Depending on which year’s tax form the IRS used when it did the math on your third payment, the IRS may have calculated the amount of the payment using an older tax form instead of your 2020 filing. If this is your situation, once the IRS receives your 2020 tax return and calculates your third payment again, you could be due more money based on information from your current filing — or other factors if you don’t usually file.

The IRS said it’s automatically sending these plus-up payments if it needs to square up the amount it owes you, but to double-check the math, you may want to confirm how much money you should expect this stimulus round and then track your paymentRead more>>

Source:-cnet

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