Stimulus checks: Plus-up payments, IRS delivery deadline, everything else you should know



The IRS continues to send billions of dollars in stimulus check payments (see the full delivery chart below), including about 700,000 “plus-up” payments each week for the last two weeks. This stimulus payment batch also includes Social Security recipients and SSI beneficiaries, and eligible people who took the extra step to provide some information the IRS needed to send the payment (this group may include nonfilers).

The takeaway for you is that stimulus money is still coming, and could be for months, especially with these supplemental plus-up payments that the IRS owes based on calculated your stimulus share using “old” information, rather than your 2020 tax return. With the new May 17 Tax Day deadline, more plus-up payments will arrive, extending stimulus check delivery by weeks and possibly months — even if you already received most of your payment (this is how to track your stimulus check with the IRS).

Read on for everything you need to know, including how to report a problem and when you should file a payment trace. For more money matters, here’s what to know about the child tax credit for up to $3,600 and find if your state owes you more money and how Biden’s future stimulus bill could bring you more. Also, see how you could get up to $50,000 back with one-time benefits this year. Here’s the latest on student loan debt forgiveness and a fourth stimulus check. This story was recently updated.

Stimulus plus-up payments keep on coming

The IRS sent roughly $1.2 billion this past week to people who already got stimulus checks — and that’s a good thing. These stimulus check plus-up payments are the IRS’ way of reconciling differences in how much stimulus money you’re entitled to receive based on your 2019 versus 2020 taxes (or other factors if you don’t usually file).

There may be a number of reasons you qualify for a plus-up payment, but the bottom line is that if you’re not paying close attention, you may not realize you should expect the supplement. That’s why we strongly suggest you know how much money you should expect this stimulus roundtrack your payment and hold onto the relevant IRS letter. We don’t want you leaving money on the table if you’re owed a plus-up payment that for whatever reason never arrives…Read more>>

Source:-cnet

Register Form

Name
Email Address
Phone No