This may be the reason why your stimulus check is always delayed
Millions of Americans have already received their payment, but that could be the reason you expect.
TheThird stimulus invoice was adopted last week, allocating a base amount of $ 1,400 to the Americans throughout the country. And although an influx of people had their stimulation checks before or March 17 - after the big banks such as Chase and Wells Fargo finally sent payments - others continue to wait. According to experts, your stimulus verification could always be delayed according to the way you filed your taxes. Read it to find out if that's why you expect your payment and for more information on deferred checks,If you have not yet received your stimulus payment, you must check that..
If you filed a paper tax return, your stimulus check may be delayed.
The IRS announced that it will beDetermine your eligibility for the third payment of stimulus On the basis of your most recent tax return, your tax return 2020, if it has already been submitted and processed, or your 2019 tax return if it does not. However, if you submitted a paper tax return for your 2019 or 2020 tax return, you may need to wait longer for your stimulation check, because the IRS takes longer to process a paper return than electronics.
AsMichael HunscheManaging Director of Hunsche CPA Group / Management and Tax Services, explained WANE-TV, it's probably your tax return.has not been processed yet If you have not deposited electronically. According to CBS News, IRS and the Treasury Department officials reported on March 12You should file an electronic return By 2020 to ensure a faster processing time for stimulus payments. And for more on stimulus and your taxes,If you wait for a stimulus check, read this before depositing your taxes.
The IRS delayed to deal with millions of tax returns.
The task of publishing recovery payments caused major backups in the IRS tax processing system. According toThe Washington Post, 6.7 million tax returnshave not been treated by the IRS As of March 12, more than three times the number of the same period last year. And while the IRS dealt with returns electronically in a relatively normal chronology in 2020,Paper returns are those that face significant delays, a US Accountability Office Report (GAO) was found.
"The Global 2020 Performance of the IRS has been considerably affected by its dependence on manual processes such as for paper yields and its limited capacity to process remote yields while the treatment centers were closed. As a result, at Counting the 2020, the IRS had a significant backlog of non-transformation. Returns and correspondence of taxpayers, "revealed the Gao report.
The Washington Post reported that these revenue reporting delays have forced the agency toExtend the deadline for traditional tax deposit This year over a month, from April 15 to April 17. And for more information up to date,Sign up for our daily newsletter.
The IRS says they delivered 90 million stimulus controls so far.
The IRS said on March 17 that they already haveDelivered 90 million stimulation controls In a "first batch" of payments for the third stimulus. "The first batch of payments was mainly sent by direct deposit that some recipients started receiving last weekend. As of today, all the beneficiaries of this first batch of direct deposit payments will have access to their Fund, "said the Agency on their website. The agency also reported sending 150,000 other checks by mail. However, you can always wait and the IRS knows it. According to the agency, "Lots and additional payments will be sent in the coming weeks by direct deposit and through the messaging as a control or debit card". And if you are still waiting,Your stimulus check can never come if you do not do it, IRS says.
There are other reasons why your stimulus check could be delayed.
Of course, this is not the only reason your stimulus check could be retained. If it's in the mail, you can always wait for it to happen. You can check the payment status via the IRS '"Obtain my payment"Tool. And if you moved over the last year and haveNot updated the IRS with your new addressYou can wait even longer. The agency says the post office will return your check to the IRS if it can not deliver it. If this happens or if the bank rejects your deposit (which can happen if the account information was incorrect or that the account has been closed), you will see a notification "Need more information" on the payment status tool. With this review, you will need to update the IRS with new information to receive your check. And for more past payments,If you have never had your last stimulus check, the experts say that now.
