Some Americans received a second check of financial aid from the IRS: what is the reason
Some Americans this week discovered that an unexpected second check from the IRS arrived in their bank account. Many people wonder if there was some kind of error or glitch in the system. Edition Forbes found out what really happened.
Federal aid for the coronavirus, under the CARES Act, was passed back in March. The law provides $ 1 in assistance for individual taxpayers who earned less than $ 200 a year. Joint applicants (married couples) who earned less than $ 75 a year received $ 000. Dependents aged 150 and under received an additional $ 000 for each dependent.
But there was a technical problem that resulted in underpayment, and the IRS is now trying to fix it.
If you were eligible but were not required to file a tax return and used the IRS Non-Filers: Enter Payment Info Here tool to enter your information by May 17, be aware that there was a software error that did not include any of your dependents in payments.
The IRS sent you your check, but you did not receive the $ 500 for each eligible dependent. The IRS explained that there was a programming error that they fixed on May 17, so only those who entered information prior to that day did not receive $ 500 for each dependent.
If you wondered where the money went, now you know why it disappeared. Fortunately, you don’t have to do anything because the IRS will automatically send the missing amount.
IRS updated your websiteto explain the delivery schedule of payments and how they will be paid.
“The IRS will automatically issue an additional $ 500 per eligible dependent in early August for those using the IRS Non-Filers tool prior to May 17, 2020. Direct deposit payments are scheduled for August 5, 2020, while paper checks or debit cards are scheduled to be mailed on August 7. You can use Get My Payment to check the status of payments, ”the IRS said in a statement.
If you received your assistance through a direct deposit, an additional $ 500 per eligible dependent will be deposited into the same bank account.
If you received your check in the mail, an additional $ 500 per eligible dependent will be sent to your registered address.
If you used the Non-Filers tool on or after May 17th, your payment already included $ 500.
For the most part, you will receive an additional $ 500 per dependent, just like you received your first check. It is not clear how those Americans who received their payment as a debit card will receive the additional money, since they were replaced at a later stage in the issuance of payments. Most likely, the money will be sent in the form of a check by mail.
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