Third stimulus check: link and how to apply in IRS portal
President Joe Biden's American Rescue Package was finally passed by Congress and this will see the third iteration of stimulus payments issued to Americans.
The $1.9 trillion covid-19 relief bill was signed into law on Thursday 11 March, a day earlier than scheduled, which was President Joe Biden first major piece of legislation to pass through Congress. Within the bill, one heavily opposed by Republican senators, there is an array of measure to support families and businesses until the vaccine roll-out has brought the pandemic under control and the economy can be kickstarted.
As part of the provisions, the controversial $1,400 direct stimulus payments could be issued in just a few days, as the Treasury Department make appropriate arrangements. If you previously used a direct deposit to receive your tax refund, you will likely be one of the first to see your payment hit your bank account. If not, the IRS will send you a paper check or pre-paid debit card via mail, which will clearly mean a longer wait.
Third stimulus check: how to claim through IRS portal
The Get My Payment tracking tool, as you'd expect, can be used to find our where your payments for both filers of tax returns and non-filers are in the process.The message on the site currently reads:
"2021 Economic Impact Payment Coming Soon
"Check back soon for information on the 2021 Economic Impact Payment. We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. For the latest updates, check IRS.gov/coronavirus."
The Frequently Asked Questions page also includes information on how to claim payments missed from the first two round of stimulus checks, or amounts not fully realised as well as how to manage various error messages on the tracker.
Third stimulus check: how to claim if I don't file tax returns
On the IRS non-filers tool page, it explains that if the last time you used the Non-Filers tool to register for an Economic Impact Payment (stimulus check), "you must complete and print a paper 2019 Form 1040 or 1040-SR tax return, write “Amended EIP Return” at the top, and mail it to the IRS."
The IRS will use the information they have on file from 2019 or 2020, whichever is the most recent when they get the order to send out the payments. However, there are individuals that will file for the first time in 2020 and those who haven’t filed in prior years. In the fall, the IRS was trying to locate some 9 million non-filers who were due a stimulus check but hadn’t received one yet due to a lack of information. They continue to do this.
If you were due a stimulus check from the previous two rounds or didn’t receive the full amount due to you because your economic situation changed in 2020, you can claim those funds through the Recovery Rebate Credit on your 2020 income-tax filing. The filing deadline is 15 April this year, although victims of the winter storms in Texas have an extension until 15 June.
The IRS urges taxpayers to visit IRS.gov - the official IRS website - to protect against scam artists. The IRS has issued a warning about coronavirus-related scams.
Third stimulus check: when can I expect it?
Although it is not possible for us to say the exact day that you will receive your payment, the good news for those desperately awaiting their money is that they will start to be issued as early as this weekend.
There should be sufficient information in this article to aid you find out where you payment is in the process as soon as these begin going out.
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