How to Claim Your Stimulus Check?
COVID-19 was declared a global pandemic by the World Health Organization in March 2020. As a result, many countries - the United States included, declared an emergency and ordered a lockdown. One lockdown after another caused unemployment to rise across the country, leaving millions of Americans with a lower income and some to no income at all. To put a brake on the dire situation, the federal government passed relief bills, including the Economic Impact Payment.
The bill, better known as the coronavirus stimulus check, was designed to put an influx of cash into the economy, helping people get relief from the loss of income. As a citizen of the U.S., you are likely entitled to a government stimulus check. What do you need to know about the stimulus check and how can you get your check? here is everything you need to know.
What is a stimulus check?
Stimulus checks are checks that the U.S. government provides American families as a result of the financial damages caused by COVID-19. As of today, September 2021, there have been 3 stimulus checks that were paid during the global pandemic:
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
$500 for an eligible dependent child and $1,200 per eligible adult.
Second stimulus check
A second check authorized in December of 2020: $600 per each eligible dependent child and eligible adult.
Third stimulus check
American Rescue Plan Act on March 2021: $1,400 per each eligible dependent child and eligible adult.
Who can get a stimulus check?
As you have probably noticed, only those who are eligible for a stimulus check will receive one. who is eligible for stimulus checks? Individuals with a Social Security Number. This broad term is not the only parameter that affects eligibility to a government stimulus check.
With the first and second stimulus checks, individuals who claimed as dependent were not eligible to receive the check. However, those who claimed dependents under the age of 17 were eligible for the payment. The same goes for the third stimulus check.
Another factor that affects stimulus checks is income:
- To receive any of the three checks, single tax filers must have an income of under $75,000.
- Heads of a house with an annual income of $112,500 are eligible for stimulus checks.
- Married couples who are joint income tax filers and have an income of under $150,000 are eligible for stimulus checks
IRS stimulus check: where is the money coming from?
You are probably wondering who is picking up the check on stimulus checks; as of today, Congress has allocated roughly $5 trillion for the national pandemic relief program. The money in the program comes from tax revenue, local and foreign lenders, and money created from the federal reserve.
Each individual receives stimulus checks based on tax return information from 2018 or 2019. This data allows the IRS to determine income and eligibility for the first stimulus check and second stimulus check.
To determine the income and eligibility for the third stimulus checks, the IRS will use tax return information from 2019 or 2020. The IRS has used information provided by the tax return information from 2019 or 2020 to send the checks for eligible Americas.
Where is my stimulus check?
The IRS has sent more than 161 million stimulus checks in the round of stimulus check payments. Each eligible individual has received up to $1,400 in the third round. However, what happens if you are eligible for the payments and have not received your checks?
If this happened, it could be because you have not filed a tax return, which causes delays in payments. Also, if there are discrepancies between what you have filed and an IRS check, your payment could be delayed.
If you have moved to a new address, it is possible that your checks arrived at your old residence. In either case, if you are eligible for a stimulus check but did not receive one, you can contact the IRS to find out where your money is.
Track stimulus check
If you want to track stimulus checks, you can do so by entering a website created by the IRS for just that purpose. Go to the "Get My Payment" tool on the website to check the status of your third payment (information for the first two payments is no longer available). If you have not received the third check, you can file a request to get it until mid-October.
On the IRS website, you can check your payment status as follows:
- Payment processed: the IRS will specify the status of payment, including sent/not sent, issue date, mail delivery/direct deposit.
- Payment not processed: the status will read "Payment Not Available". This means that you are not eligible for the payment, or that the IRS has not processed your payment yet.
- Missing data: if the status reads "Need More Information", it means that there was a failed delivery attempt to you, and your check has been sent back to the IRS. To receive your money, you will need to provide your bank info to the IRS.
Online stimulus check lookup
As of 2021, there are more than $60 billion in unclaimed funds, including state-held unclaimed money and uncashed paychecks. To find your stimulus check, you need to provide your full name and your current state of residence. If you have moved in the past few years, we recommend you perform a search in your previous state of residence.
Then, GoLookUp will begin to scan billions of public records to find unclaimed money that is registered to your name. If you have an unclaimed stimulus check that belongs to you, you will be able to see the information on GoLookUp and claim back your money.