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Sunday, November 28, 2021

Track Your $1,400 Stimulus Check: 5 New Ways You Can Benefit From The American Rescue Plan

The stimulus checks are going out every week and the IRS is doing everything it can to ensure that Americans get their payment in full. They have even sent millions of catch-up payments to make up for errors and omissions in the initial stimulus check. But if you haven’t received your initial payment, it is time for you to take the initiative and follow up with the authorities.

Reasons For The Delay In The Stimulus Check

There might be several reasons for the hold-up. Perhaps the IRS doesn’t have your record. Or the check might have been returned by the postal authorities. You also need to calculate the exact amount so you do not miss out on any part of the check.

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There are numerous tools put up by the postal service and the IRS that that will aid in tracking your stimulus check. If you still do not get your stimulus payment, you can always file a trace to track down and recover your stimulus payment.

But there is a downside. You could encounter several error messages. And getting the latest update is an issue. But with the right amount of information, you can get help from the system.

Getting Help From The ‘Get My Payment’ Tool

There are several inputs required to log into the Get My Payment tool. You will have to enter your Social Security number, your date of birth, and your address, including your postal code or ZIP code.

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You will then get a message informing you about your check. You will get to know if your payment has been dispatched or is being processed. You will also get information on the method of payment; whether it’s a paper check, a direct deposit, or an EIP card. You will also know the date the payment was issued. You might also get a message that it cannot define your status.

But You Will Not Get Every Clarification From The Tool

You will not get information on the amount of your stimulus check. Details of the first and second stimulus check are also not included in the tool. The tool is updated at the end of each day. So you will get updated once every day. The tool is also not much help when it comes to payment issues.

Calling up the helpline number won’t benefit as all that the operator at the other end can tell you is already contained in the IRS tool.

What Should You Do If You Get The ‘Payment Status Not Available’ Alert?

This message is usually up there on the screen as long as your stimulus check is under process. So you need to wait for a reasonable time. But it can also indicate that you are ineligible for payment. So you need to do a recheck or take the help of several online calculators available.

What’s The ‘Need More Information’ Message?

Stimulus Check
Stimulus Check

It indicates that the IRS has not enough information to send you the payment. Your check was returned to the authorities because the postal service was unable to trace your postal address.

The quickest way to address this issue would be to provide deposit details of a bank, or a reloadable debit card, or any financial service account with an account number attached. Updating your mailing information with the IRS and US postal service will also help the authorities to send your payment through the right mailing address.

Getting A Sent Message Without Any Sign Of Payment

If you do not get your stimulus check despite a message to the contrary, you should apply for a payment trace. Be sure to retain the letter sent by the IRS. It will contain details that will help you trace your payment. It could take more than two weeks for this mail to arrive. If your payment is sent through the postal service, you can use their free tool to trace your stimulus check at every step.

Information For SSI, SSDI, And Veterans

Social Security beneficiaries can also get their latest payment status on the IRS tracker, Get My Payment. Millions of such recipients have by now received their stimulus check.

Be Sure To Keep The Letter Sent By The IRS That Confirms That Yur Payment Was Delivered

Every stimulus payment is always accompanied by a letter containing details of the payment. It should reach you in 15 days of the arrival of the payments. It contains all information on the date and mode of payment. You also can know the steps to take to inform the authorities if you do not receive the stimulus check. This letter will be needed as a reference when filing for a trace.

Recovering The First Two Stimulus Payments

Stimulus check
Stimulus check

If you have not received any part of the previous two stimulus checks, you have to recover that amount through the Recovery Rebate Credit. It is part of the current tax returns. The Get My Payment tool doesn’t contain information on these two payments.

You Cannot Add Info Through The IRS Tool

The IRS tool cannot be used to add or correct information. Filing now before the May 17 deadline will help you in future tax refunds or Child Tax Credit. But it is too late to ensure that your payment is included in the first direct deposit. But every bit of information that you share with the IRS will help you in future payments given out by the authorities.

Latest Info On Biden’s American Family Plan Bill

The American Jobs Plan is the proposed bill to release $2 trillion for developing the infrastructure that will help to shore up the economy and create jobs. The Biden administration plans to then seek another $1.5 trillion for new spending and fresh tax credits.

The administration has retained its focus on the child tax credit which is expected to significantly bring down child poverty across the nation. Around 45% of children are expected to benefit and will lift 5M children out of the clutches of poverty. Biden wants the tenure of the program extended to 2025.

Education Support Proposed

President Biden remains committed to making the first two years of college education free. It would also include training programs.

Free Prekindergarten Education Planned

The American Families Plan also covers free education for pre-kindergarten students aged 3-4 years.

A Fresh Look At The Childcare Policy

Making child care more affordable was a part of President Biden’s election campaign. He plans to address the issue with tax subsidies and credits. The new American Families Plan is expected to cover his campaign promise.

Medical And Family Leave

The president is likely to suggest a move towards 12 weeks of paid medical and family leave.

Other Measures Projected To Support The American Public

Several other measures are being proposed to help you either get more or save more. It includes proposals to call off debts of $10,000 per student. Student debts are higher than credit card and auto loans in America.

There have been demands from prominent Democrat lawmakers for the fourth round of stimulus check till the effect of the pandemic wears off.

There have also been efforts to raise the minimum wage which could not go through as the Senate failed to reach an agreement on the issue. But the efforts to raise the minimum wage to $15 an hour remain on the table.

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