Even if you have received your third stimulus check, you still could be in for a plus-up payment. The IRS has been sending these supplemental checks and more than 7 million Americans have already received their follow-up payment. But the question is are you eligible for one?
Also, learn how you can track your payment if you haven’t received your stimulus check yet. Though the IRS has already sent out over 100 million payments, many are yet to get their third stimulus check. And to help you out is the online IRS tracker, the ‘Get My Payment’ tool. It is an updated version for the tracker people used to track their first and second stimulus check, though you can’t use this tool to track the initial two stimulus payments.
The last two batches of payments are worth more than $3.B. $1.6B is as direct deposit and $1.9B is through the postal service. Around 900,000 worth $1.9B of these payments went to families and individuals who recently filed their 2020 tax. The follow-up payment sent in these two rounds totals $1.6B.
Tracking The First And Second Round Of Stimulus Check
If you have missed out on the first or the second stimulus check totally or in part, you will need to create an online IRS account or refer to the letter sent with each round of stimulus check, IRS Notices 1444 and 1444-B.
The last date for claiming the pending amount was through the Recovery Rebate Credit along with the 2020 tax return on May 17. But you can appeal for an extension.
Are You Eligible For A Plus-Up Check?
You will normally get a follow-up payment to your third stimulus check if you received your initial payment based on your 2019 returns.
You receive a plus-up check if your adjusted gross income for 2020 should be less than the AGI for 2019. The birth of a baby in 2020 or the inclusion of dependents based on the new criteria could also help you get a follow-up payment.
Getting married could also set you up for a follow-up payment if you are filing jointly. In such a case, the combined earnings may help you get more than what you received individually.
If your initial stimulus check is based on the information given through the non-filers tool, filling your 2020 return might make you eligible for more payment. Much information was not included in the non-filers tool, including children over 16.
The Updated ‘Get My Payment’ Tool For Tracking Your Third Stimulus Check
The IRS ‘Get My Payment’ allows you to check the latest status of your third stimulus check. It also confirms the mode of your payment, either through a direct deposit or by mail. You could get a paper check or a prepaid debit card in your mail.
You can also know the possible direct deposit or mail delivery date and find out if your payment is yet to be scheduled.
If your stimulus check is not deposited directly into your bank account, you will receive your payment through the US postal service. But this will delay the process by around 4 weeks.
If the IRS is unable to send your payment through a direct deposit, it will re-send it through the postal service. This could happen if your bank details are incorrect or you have closed that account.
The only instance when you are allowed to send your bank details through the Get My Payment tool is when your check is returned through the postal service. You will get the “Need More Information’ message on your tracker, two to three weeks after the original payment was issued. You can now enter the account number and a routing number of your bank, a prepaid debit card, or any other financial product that has these bits of information linked with it.
Getting Access To The ‘Get My Payment’ Tool
You will need to enter some basic information to access the IRS tool. They are your Social Security number or ITIN number, your Date of Birth, Street Address, and the five-digit postal or ZIP code.
For couples filing jointly, you can access the portal by entering your individual information and answering the security questions. The same status will be displayed for both.
In some instances, the stimulus payments may come as different instruments, part of it as a paper check and the rest as a direct deposit.
Entering wrong details may lock you out of the portal for 24 hours. Accessing the portal 5 times a day will also lock you out. It doesn’t make sense as the portal is updated only once at the end of the day.
Interpreting The ‘Get My Payment’ Messages
You will see any one of the following messages when you access the IRS tracker.
If you get Payment Status, it means that your stimulus check has been issued. You will get the date of payment, the method, and the accounting information if it is a direct deposit. Mail indicates that you might get either a prepaid debit card or a paper check through the postal service.
The ‘Need More Information’ message is displayed if your 2020 return has been processed and the IRS has not been issued. The same message is delivered if your check was returned through the postal service. As mentioned, you can now enter your bank details.
If you get the message, ‘Payment Status Not Available’, it means that either your payment hasn’t been processed or the IRS hasn’t enough information to issue your payment.
Reasons That Could Delay Or Diminish Your Stimulus Check
Your stimulus check could be delayed for several reasons, including calculation errors. You will have to rectify this with the IRS or wait for automatic plus-up payment. A newborn baby or an older adult might not have been accounted for, and that could have reduced your stimulus check.
You could also miss out if your stimulus check was sent to a non-functioning bank account. If you have moved and failed to give this information to the IRS and the postal service you could miss out on your stimulus check. Your payment could also be garnished by private creditors.
The Importance Of The Letter Signed By President Biden
Notice 1444-C is sent a couple of weeks after the payment is sent. This letter is the only official document of your third stimulus check. It confirms your stimulus payment and contains the payment details, containing the amount and the mode of payment. You will need this letter for future claims and also for your 2021 tax returns.
We hope all the information will help you in getting the last stimulus check. Even without it, stay tuned for more stimulus relief coming your way from the Biden administration.