Since President Biden signed the American Rescue Plan on March 11, many senior Americans have yet to receive their third stimulus checks. While some households will see the funds within the next few days, others may be in for a longer wait.
“The payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds,” IRS Commissioner Chuck Rettig said in a statement.
It is estimated that 85 percent of Americans will be eligible for the payments and the goal is to have millions of the payments disbursed in the next few weeks. If you have yet received your stimulus check, here are some things to know.
Confirm your eligibility
The IRS’s “Get My Payment” tool has become a trending topic as taxpayers continue to receive the frustrating message, “Payment Status – Not Available”. You are not alone! Here are some reasons why your stimulus check is MIA:
According to the IRS, there are three reasons you might see that vague message. It’s possible that your payment just hasn’t been processed yet, or the IRS doesn’t have enough information to send it to you. It may also mean that you’re not eligible for the check.
As a reminder: The payments will amount to $1,400 for a single person or $2,800 for a married couple filing jointly, plus an additional $1,400 for each dependent child. Individuals earning up to $75,000 will get the full payments, as will married couples with incomes up to $150,000. Payments will exclude households with incomes above those thresholds, phasing out above $80,000 for individuals and $160,000 for married couples.
Have you checked your bank account?
Some Americans are seeing their stimulus checks pending in their bank accounts, and they’re complaining about banks holding their stimulus direct deposits. If you’re included in that group, don’t worry: Banks aren’t sitting on stimulus payments. It just takes a couple of days for the checks to process. Banks like Wells Fargo and Chase Bank have released statements that say March 17 is the official payment date on the first batch of checks.
We want to hear from you. Are you in need of another stimulus check? What has been your experience with stimulus checks thus far? Share your story with us on Facebook!