Another Payout: You May Be Eligible for Extra Money Due to COVID-19
Have you recently filed your 2020 tax return? Perhaps you will have another payment of "coronavirus" financial aid, reports People.
Millions of Americans have received a third round of incentive payments designed to ease the situation during the COVID-19 pandemic, and some will receive additional funds in the form of another payment, the IRS said.
Who will receive the extra money? According to the IRS, those who filed their 2020 tax returns and their income dropped significantly in the past year. This is because previous rounds of incentive payments were calculated based on 2019 tax returns.
"This package includes the first of the current additional payments for people who received payments earlier in March based on their 2019 tax returns, but are eligible for a new or larger payment based on their recently processed 2020 tax returns." - said in a message from the IRS on April 1.
Those who have a baby or a new dependent in 2020 may also qualify for additional funds.
“These additional payments could include a situation where a person's income fell in 2020 compared to 2019, or a person had a child or a dependent on their 2020 tax return, and other situations,” the IRS said in a statement.
In all, more than 4 million people will receive money in the third round of payments from the government, totaling more than $ 10 billion. Two million people will receive them in paper checks, and the other half in bank accounts.
The IRS explained that funds will be sent to eligible recipients on a weekly basis as the service continues to process tax returns for the past two years.
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Those who want to check the status of their payments can use the IRS tool “Get my payment”, Which was launched during the first round of payments last year.
After clicking the "Get My Payment" button, users will be prompted to enter their Social Security number or individual tax number, date of birth and address.
At this point, they should be redirected to a page that says "Payment Status", which will let them know when they should expect their money.
If for any reason a pop-up window appears that says "Payment Status Not Available", it means one of three: The IRS has not yet processed the payment, the IRS does not have enough information to issue the payment, or the user is not eligible for payment.
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