You already obtained your third stimulus test. Must you hold a watch out for a plus-up cost?
Sarah Tew/CNET
Stimulus test cash goes out weekly from the IRS, with this week’s batch of two million funds including as much as almost $3.4 billion. Whether or not you are a part of the 161 million who’ve obtained checks up $1,400 already or your cost date is to return, these third stimulus checks won’t be the one cash the IRS has scheduled for you. With this 12 months’s prolonged tax season overlapping with the stimulus test supply timeline, the IRS is making “plus-up” funds for many who obtained a smaller cost than they’re eligible for. We’ll clarify about these underestimated funds under, together with why you’d get one and the way the cash ought to arrive.
And it isn’t simply these plus-up funds it is best to look ahead to. The IRS is sending a whole lot of 1000’s of checks to Social Safety recipients and SSI beneficiaries and to eligible folks who lately provided tax data the IRS wanted to calculate their stimulus test (here is find out how to test your stimulus standing with the IRS).
We’ll lay out what to know, together with find out how to report a stimulus test downside and when it is time to file a cost hint. If in case you have youngsters, hold a watch out for baby tax credit score funds for as much as $3,600 to begin revving up, and discover if your state owes you more cash. Here is how a future stimulus plan may carry you extra. Additionally, see how you could possibly stand up to $50,000 again with one-time advantages this 12 months. Here is the newest on scholar mortgage debt forgiveness and a fourth test. This story has been up to date.
Plus-up stimulus funds will exit for months from the IRS
If the IRS calculated the quantity of your third stimulus test utilizing older tax data it had available for you, you could be due a plus-up cost. Already this April, greater than 2.5 million individuals who had already obtained their third stimulus test obtained plus-up stimulus cash, because the IRS works to sq. up funds based mostly in your most up-to-date data. In case your 2020 tax return reveals you qualify for a bigger cost, the IRS mentioned it’ll recalculate your quantity and mechanically ship a plus-up cost for the distinction it owes you, after it receives your 2020 tax return — or based mostly on different elements when you do not often file.
Though the IRS mentioned it’s mechanically making these catch-up funds, it is in your greatest curiosity to see for your self how a lot cash it is best to anticipate this stimulus spherical, then monitor your cost and maintain onto the related IRS letter in case you obtained lower than you consider you’re eligible for. We do not need you leaving cash on the desk when you’re owed a plus-up cost that, for no matter purpose, by no means arrives.
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Stimulus plus-up payments: What you need to know
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These plus-up payments are now going out weekly along with the third round of checks, but they may not be the only money you’re due. For money missing from the first two checks, you need to claim that on your 2020 taxes. (Tax Day is May 17.) We suggest making sure you also know where to find your adjusted gross income. Tax nonfilers may need to be proactive about claiming a new dependent, too.
If your stimulus payment arrived by direct deposit, that’s how you should expect to receive your plus-up money, too. If the IRS doesn’t have your details on file, you may get a paper check instead (here’s how you’ll track it in the mail).
Stimulus check payments made to date
| Direct deposit | Paper checks | EIP Card | Direct Express Card | Plus-up | |
|---|---|---|---|---|---|
| First payment batch — March 17 | 90 million ($242 billion) | 150,000 ($442 million) | Not disclosed | Not disclosed | Not disclosed |
| Second payment batch — March 24 | 17 million ($38 billion) | 15 million ($34 billion) | 5 million ($11 billion) | Not disclosed | Not disclosed |
| Third payment batch, including Social Security — April 3 | 2 million ($5 billion) | 2 million ($5 billion) | Not disclosed | Not disclosed | Not disclosed |
| Fourth payment batch, including first plus-up payment — April 7 | 24 million ($33 billion) | 1 million ($3 billion) | Not disclosed | 3.1 million | 1 million ($2 million) |
| Fifth payment batch, including nonfiler veterans — April 14 | 1.2 million ($2 billion) | 800,000 ($1.4 billion) | Not disclosed | Not disclosed | 700,000 ($1.2 billion) |
| Sixth payment batch — April 21 | 900,000 ($1.5 billion) | 1.1 million ($1.8 billion) | Not disclosed | Not disclosed | 700,000 ($1.2 billion) |
IRS stimulus payment schedule through December
The majority of the third stimulus check payments have gone out from the IRS and US Treasury, at least based on what the IRS has on hand to determine payment amounts. The March stimulus law, however, gives these federal agencies to Dec. 31, 2021, to send all the third checks. That gives the IRS room to process 2020 tax returns and square up payments for those who are owed plus-up amounts, folks who file a 2020 tax extension and other groups, like those who moved or don’t have a fixed address (such as people experiencing homelessness).
If all or part of your stimulus check doesn’t arrive by then, you’ll need to claim missing money via a 2021 tax return in April 2022, a year from now. This would be similar to the Recovery Rebate Credit for claiming missing money from the first two checks, which is currently in effect for 2020 taxes.
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Stimulus check 3: How much money you’ll get
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Should you track your payment?
Knowing the status of your payment is an important part of making sure you know where your full payment stands. Keep an eye out in the Get My Payment tracker tool for plus-up payments or other information about your payment. The details are updated once a day and the tool can flag if there’s a problem with your payment that you may need to address by giving you a message.
You can also use a free tool from the USPS to track your mailed stimulus payment.
Did you get a smaller check amount than expected?
The IRS isn’t particularly big on communicating how much money it calculates for your stimulus check. You won’t find that figure in the agency’s online tracking tool, but you will see it in the confirmation letter you’ll receive in the mail. (And here’s why you got the payment size you did.)
So what happens if you use our stimulus check calculator and notice the numbers seem way off, or the IRS letter quotes an amount you didn’t receive? Start by triple-checking your qualifications to make sure you’re eligible for the total you expect. Remember the IRS is automatically sending plus-up payments and that happens after the agency receives your 2020 tax return. If you had a baby or added a dependent in 2020, you won’t need to file an amended tax form to claim the supplement.
The IRS could open up claims for missing stimulus money before its Dec. 31 deadline to stop sending checks. If not, you might have to wait a year to claim it — when you file your 2021 taxes in 2022 (even if you’re a nonfiler who isn’t typically required to file taxes).
Do you have a stimulus check problem? Start here
The IRS doesn’t want you to call if you have any issue with the delivery or amount of your stimulus check. So what to do instead? Our guide walks you through how to report stimulus check problems, including checks that never arrive (try filing a payment trace), direct deposit payments that go to the wrong account and other issues.
Why all or part of your stimulus money didn’t arrive
Also, here’s what to know if the IRS sent a letter confirming it sent your stimulus payment, but the money never arrived. Here’s more information on problems you might encounter with your stimulus check.
Stimulus check delivery start and end dates
| First direct deposits made | March 17 (official) |
|---|---|
| First paper checks sent | Week of March 15 |
| First EIP cards sent | Week of March 22 |
| First Social Security, SSI, SSDI payment sent | Weekend of April 3, most arriving April 7 |
| First plus-up payments | Weekend of April 3 |
| VA benefits for veteran nonfilers | Week of April 14 |
| IRS deadline to finish sending checks | Dec. 31, 2021 (mandated by the bill) |
| Last date to receive a check | January 2022 (if mailed checks sent late December) |
| Final claims for missing stimulus money | 2021 tax season likely (in 2022) |
Yes, your 2020 taxes could make a big difference in your payment total
Taxes are now due May 17. So how will the IRS figure out how much it owes you? It will calculate your total (you can also do that here) based on the most recent tax filing it’s processed at the time it’s ready to tabulate the amount of your stimulus check.
If you know your tax return was already processed, your total will likely be based on your 2020 adjusted gross income, not on your 2019 AGI. That presents complications if the difference between the two years disqualifies you from getting a third stimulus check.
On the flip side, if the IRS uses your 2019 taxes and you’re owed more money based on your 2020 AGI and dependents, you could get a plus-up payment. If you got more money than you’re owed, you’ll only need to return it to the IRS in some cases.
Millions may wind up getting a smaller check than they’re owed, depending on their 2020 taxes.
Sarah Tew/CNET
Stimulus check details for veterans, SSI and SSDI recipients
Veterans receiving VA benefits and people who get SSDI and SSI benefits began receiving stimulus checks from the IRS and Treasury. Delivery details should now be available in the Get My Payment tool.
You might get your stimulus money by direct deposit to existing Direct Express cards if this is how you normally receive benefits, and if you didn’t file taxes in 2019 or 2020. Otherwise, the money could come in the mail (here’s what to look for so you know it’s legit). The SSA says that Social Security beneficiaries like SSI and SSDI groups will not receive an EIP debit card.
If you’re a tax nonfiler and you used the IRS’ Non-Filers tool by November 2020 to submit information, you may have already received your check before other Social Security recipients.
If you had a new baby in 2020 or 2021, you could get additional stimulus money, once the IRS calculates your dependent.
Sarah Tew/CNET
There’s more: Extra rules and exceptions to know
Stimulus checks aren’t necessarily a one-size-fits-all situation. Here are guides for:
And here’s everything you need to know about the third stimulus check, how to calculate your stimulus total and every way the stimulus law can bring you more money.
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