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Tuesday, September 27, 2022

Stimulus Check 2022: Here’s Why You Still Haven’t Got It

A third stimulus check of up to $1,400 for individuals, $2,800 for married or joint filers, and $1,400 for dependents was distributed to around 130 million people. If you are not one of them, here are five possible reasons:

You are not eligible for a stimulus check.

Not everyone is eligible for an Economic Impact Payment, much as the first and second stimulus checks.

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Instead of a direct deposit, you will get a paper check.

The majority of stimulus payments will be deposited directly into your bank account. You may get a paper check or a debit card if you do not have a bank account or have not supplied your bank account information to the IRS.

Stimulus payouts are not given out all at once.

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The checks are not all given out at the same time. Direct deposit is likely to obtain your check sooner if you have a savings account on record with the IRS. If you don’t, though, getting a paper check or debit card may take longer. The third stimulus check, like the first and second, will be issued in portions over time. You may not have gotten a stimulus payment if you receive Social Security benefits.

A loan collector stole your stimulus check.

If you owe a past-due loan, debt collectors can confiscate your stimulus check under the new stimulus program, the $1.9 trillion Americans Rescue Plan of 2021. This differs from the first and second stimulus checks, which prohibited wage garnishment by debt collectors.

You have not submitted a tax return.

If you must submit a tax return, your income eligibility for the third stimulus payment is determined by your adjusted gross income in 2019 or 2020. Not everyone, however, is obligated to submit a tax return (such as certain Social Security recipients or if you earned below a certain income threshold).

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