Why you still have not received financial assistance in connection with coronavirus: 6 possible reasons
The federal government began paying coronavirus benefits to individuals and families a few weeks ago, but millions of US residents still haven't received checks or direct money transfers, writes Fox News.
Here are some possible explanations why your money still hasn’t come:
You do not fit the requirements
Many people simply do not qualify for this assistance. According to the CARES Act, non-resident immigrants are not eligible for payments, nor are those individuals whom someone has indicated as dependents. In addition, bonus payments of $ 500 per child apply only to children under 17 years of age. The law also states that payments can be set off against any late payments for child support that have been reported to the Treasury.
Another reason you may not be a good fit is that you have made too much. For those whose income is more than $ 75, and with a joint tax filing of more than $ 000, and those who are the head of household and have earned more than $ 150, payments are reduced by $ 000 for every $ 112 of income above these marks. This means that the payment will be the lower, the higher the earnings, while it decreases to zero for individuals who earn $ 000 or more, and for couples who earn $ 5 or more.
A common reason why payments are delayed is because the applicant used tax preparation services. These services set up temporary accounts for some customers to whom they can receive tax refunds from the IRS. After receiving the return, the service deducts its fees from the amount, and then transfers the balance to the taxpayer. Now the banks in which these temporary accounts are located receive taxpayer checks in connection with the coronavirus and return them to the IRS.
IRS does not have correct banking information
In many cases, the IRS may not have the person’s updated banking information if they change their bank accounts before the last tax filing. This will affect the ability to receive a direct translation. In this case, the IRS has implemented a tool on its website Get my paymentto help people update banking information.
You filed a paper tax return
The amount of payments in most cases is determined by the income indicated in tax returns. According to the IRS, the Internal Revenue Service is currently can't handle paper documents due to COVID-19. As a result, those who have already filed paper declarations will have to wait until the processing centers reopen to process the declarations. The IRS does not advise filing returns electronically again.
You usually get paper receipts for tax refunds
If you, as a rule, prefer to receive a tax refund by check by mail rather than by electronic direct transfer, then most likely your financial assistance will also be sent by paper check, which takes more time.
In some cases, people received payments, but for the wrong amount. For example, the IRS acknowledged that some Americans did not receive their $ 500 payout per child. Although they did not explain why this happened, the government says that in these cases, you can require additional money when filing a tax return for 2020.
As ForumDaily wrote earlier:
- Coronavirus Federal Payments will not be taxed.
- If the government does not have your direct bank account number, some will wait for mailed checks by September.
- According to the adopted package of financial assistance, there are categories of people who, despite the matching income level, will not receive assistance. Their list is here.
- The topic of government support is actively used by scammers. The schemes used by them and ways to protect themselves from them - link.
- April 15th IRS launches online tool, which will help you enter information about your account, track the payment and receive money as soon as possible. For details on how to use it, read here.
- After the start of payments, many reported that when checking the status of payment online, they found that the money was sent to Incorrect accounts, including dead.
- Most Americans will receive federal government aid payments for coronavirus automatically, but there are several reasons payment may be delayed.
- Mexican-American Legal Defense and Education Foundation sued the federal government due to denial of coronavirus assistance to US citizens married to immigrants without social security numbers.
- Americans along with a federal aid check from the government receive by mail and letter from US President Donald Trump... It begins with the greeting "My brother is American ...". Why not everyone liked this idea - read our material.
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