While more than 150 million stimulus payments have gone out, there are still many, many people that are waiting for their stimulus money – most of whom are waiting for the money they were to have received for their dependent(s) child(ren). While the lawmakers are still negotiating over the second stimulus package, many of you are waiting to get all of the first one. Here is what you can do.
Waiting for a Stimulus Payment? Here is What To Do
Link: Non-Filer’s Tool
Who Is Missing Stimulus Payments and Why?
First of all, let me address the “who” and “why”. When the first stimulus money went out, it was to the people who had filed tax returns in 2018 or 2019 and had direct deposit information on file with the IRS. After that, it was the people who had filed and had addresses on file with the IRS.
People Receiving SSI/VA Benefits
The people who did not receive the money right away were mostly people who were on social security benefits or VA benefits. For these Americans, they may not have filed returns (because they did not need to) and their information was with the different branches of the Treasury Department so it took a while to get that information to the IRS to get payments out for.
Those Same People with Minor Dependents
Among those were also the people on SSI or VA benefits who had eligible dependents (children 16 and younger). For these people, in order to receive the $500 payment for each dependent, it was required to fill out the Non-Filer’s Tool. Unfortunately, there was a glitch prior to May 5 and everyone who filled it out did not have the dependent registered.
People Who Did Not Make Enough to File Tax Returns
So, a couple of weeks ago, those payments started going out. But, there were still many that did not get all the money. Some of them fit into those categories and still others were those Americans who did not make enough money to file and may not have filled out the Non-Filer’s Tool in time.
For these people, this is the $1,200 for individuals, $2,400 for a couple filing jointly. Plus, the $500 for any eligible dependents they had.
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What is Happening Now?
Now, the IRS has reopened the Non-Filer’s Tool to allow for those that did not fill it out the first time to get their information in. Also, anyone who did not receive the $500 for a dependent and filled out the form before May 5, they need to fill out this Non-Filer’s tool again.
Here is the calculator to show what you should have received:
This calculator was developed by Maciej Kowalski, PhD candidate and Jasmine J Mah and available at Omni Calculator
Here is what the IRS has to say about this:
Used the Non-Filers tool after May 5? No action needed.
For those Social Security, SSI, Department of Veterans Affairs and Railroad Retirement Board beneficiaries who have already used the Non-Filers tool to provide information on children, no further action is needed. The IRS will automatically make a payment in October.
Didn’t use the IRS Non-Filers tool yet? Provide information by September 30.
For those who received Social Security, SSI, RRB or VA benefits and have not used the Non-Filers tool to provide information on their child, they should register online by Sept. 30 using the Non-Filers: Enter Payment Info Here tool, available exclusively on IRS.gov. Remember, anyone who filed or plans to file either a 2018 or 2019 tax return should file the tax return and not use this tool.
For those unable to access the Non-Filers tool, they may submit a simplified paper return following the procedures described in this FAQ on IRS.gov.
Other Non-Filers can still get a payment; must act by October 15.
Though most Americans have already received their Economic Impact Payments, the IRS reminds people with little or no income and who are not required to file tax returns that they remain eligible to receive an Economic Impact Payment.
People in this group should also use the Non-Filers’ tool – but they need to act by October 15 to receive their payment this year.
This is primarily those who had incomes below $24,000 for married couples and below $12,200 for singles. But, if you are a low- and moderate-income worker and working family eligible to receive special tax benefits, such as the Earned Income Tax Credit or Child Tax Credit, you cannot use this tool. You will need to file a regular return.
If You Miss Your Cut-Off Dates?
If those on Social Security, SSI, RRB, or VA benefits do not fill out their information before September 30, you will need to wait and file with your 2020 tax return to get your stimulus money for this year.
If you were not required to file and did not yet fill out the Non-Filer’s tool, if you do not fill it out by October 15, you will need to wait and file with your 2020 tax return.
Bottom Line
This is a limited time to get this right and it is better to take care of it now than later. I am not sure how it may end up working, but if another stimulus payment comes this year, you will want your information on file to make sure you get your payment quicker.
Also, if you want your share of the stimulus money at all in 2020, you will need to get these filled out. Payments will go out by mid-October/late October.
Based on all the communication I have received, I know there are many tens of thousands of you still waiting for all of your original money. Hopefully, this will help! If you need to reach out, e-mail me. I have turned comments off because past posts like this had many of you leaving your information like SS numbers and other personal information – I do not want that to compromise any of you!
