The latest batch of the third stimulus checks has gone out to 2.3 million individuals and families amounting to $4.2 billion. And that includes many plus-up payments. If you are yet to get your $1,400 check, it is time you took steps to receive it.
The Plus-Up Stimulus Check
The plus-up payments have gone to people who received less than they are entitled to in the first batch of the third stimulus check. Most payments sent by the IRS in the initial two months of March and April were made based on the 2019 tax returns.
If you have filed your 2020 returns subsequently, you could be entitled to a follow-up or a plus-up payment. This was to compensate for the difference in amount after recalculation by the IRS.
Its Almost 3 Months Since The First Batch Of Checks Were Sent
The initial check went to people who had already filed their tax returns for either 2019 or 2020. The IRS could quickly determine the amount and the recipient in such cases.
People who filed through the non-filer tool also got their checks early but did not get the full amount. Many had not uploaded details of their dependents, especially those born in 2020.
More than $395 billion has been sent by the IRS including the latest batch of payments. The latest batch of payments includes 900,000 individuals and families who have recently filed their income tax returns. Around $1.9 billion went out to them. Around 1.1 billion plus-up payments went out to those who received less in their initial stimulus check, which amounted to $2.5 billion.
Reasons You Could Get A Plus-Up Payment
Plus-up payments or follow-up payments went out for a variety of reasons. The most common reason was the difference thrown up when many individuals and families filed their 2020 returns. People who received regular payments under the SSA, VA, or RRB payments had their payment delayed b
Other reasons for getting a stimulus check were the birth of a baby in the household in 2020 or the inclusion of a dependent eligible for a stimulus check. Each qualified recipient stands to gain $1,400 for each additional person.
Other than ensuring that you have filed your 2020 income tax returns, there is little you need to do to get your plus-up payment. The IRS will automatically calculate the amount due to you and send it as a direct deposit or through the US postal service.
Tracking An Unpaid Check
You are among the lucky majority if you have got the stimulus check that tallies with your assessment of the situation. But if you have either missed out on the stimulus check or feel that you deserve more, you need to act now to avoid any further delay in the process.
The first obvious step would be to track your stimulus payment. The online IRS tool, Get My Payment will set you up in the right direction towards getting your stimulus check.
The IRS is also sending a letter signed by President Biden a couple of weeks after the stimulus check. This letter, Notice 1444-C contains details of the payment. It is the only official document of your third stimulus payment and you need it to preserve it for future reference. You will need it during your 2021 tax returns next year.
Messages In My Stimulus Check
You will get any of the following messages once you log on to the Get My Payment tracker. You will not get to know the amount of your stimulus check though.
The Payment Schedule message indicates that your stimulus check is slated for dispatch and it will be sent on the date displayed. The payment mode will be either through direct deposit into your account or through the US postal service as a paper check or a prepaid debit card.
This message also indicates that though you are eligible, your stimulus check is yet to be processed, and the payment date is also not shown in the tracker.
The second message could be Payment Status Not Available. This message shows that your payment was not processed. It could also mean that you are not eligible for a stimulus check based on the information you have given to the IRS.
The third message is Need More Information. It indicates that your stimulus check was processed. But there are no account details available with the IRS and thus your payment could not be processed.
This message also appears when your stimulus check gets returned because the postal service was unable to trace your address.
Reasons That Could Delay Or Diminish Your Stimulus Check
Numerous possibilities could delay your stimulus check. The most obvious reason is a calculation error by the IRS. You will either have to wait for a follow-up payment or claim adjustment.
People who receive benefits under the SSA, or Veterans Affairs had their check delayed due to administrative reasons. Your check might also have been delayed in transit. The postal service takes between 4 to 6 weeks to deliver a stimulus check.
Incorrect bank details could also cause your stimulus check to be returned to the IRS. If you change your residence and fail to inform the IRS, your check will get returned and subsequently delayed.
Failure to update the birth of a baby or the inclusion of dependents could diminish the amount of your stimulus check.
Filing A Payment Trace For Your Stimulus Check
If you cannot trace your payment even after receiving Notice 1444-C, it is time you filed a payment trace with the authorities.
To file a payment trace, you need to call the IRS at 800-919-9835. You can also fax or mail Form 3911, the Taxpayer Statement Regarding Refund.
There is certain instruction to be followed to fill up Form 3911. You will have to write EIP3 on the form. All points are to be answered unless specifically instructed.
Section 1, item 7 requires you to select ‘Individual’ as Type of Return. The tax period should be entered as 2021. The Date Filed point should be left blank. You need to sign the form. For joint filers, you both will have to sign on the form.
If you have already gone for a phone trace, you need to file under Form 3911.
Accounting For A Missing Stimulus Check
If your check is missing in transit, the IRS will issue a duplicate if the check has not been cashed. You are required to return it if you find it subsequently.
If the check has been cashed, you will receive a copy of the check. Ut the Bureau of the Fiscal Service will review the payment to rule out fraud.
It takes 6 weeks for a stimulus check to arrive after filing for a trace with the authorities.