The Internal Revenue Service (IRS) has distributed three rounds of Economic Impact Payments (EIP) to eligible individuals and families as part of the government’s response to the COVID-19 pandemic. These payments are intended to provide financial relief to those affected by the economic downturn caused by the pandemic. However, many individuals have reported not receiving their stimulus payments or experiencing delays in receiving them. This article aims to provide an overview of the reasons why you may not have received your stimulus direct deposit yet and guide you through the steps you can take to resolve the issue.
Reasons for Non-Receipt or Delay
- Ineligibility: You may not be eligible for a stimulus payment if your income exceeds certain thresholds or if you are not a U.S. citizen or resident.
- Incorrect Bank Account Information: Ensure that the bank account information you provided to the IRS is accurate and up-to-date. If there are any errors, the payment may have been returned to the IRS.
- Processing Delays: Banks may take several days to process direct deposits. If you have not received your payment within a reasonable time frame, contact your bank to inquire about the status.
- Paper Check or Debit Card: In some cases, the IRS may issue stimulus payments via paper check or debit card instead of direct deposit. Check your mailbox or contact the IRS to determine the payment method used.
- Technical Issues: The IRS website and phone lines may experience high volumes of traffic during peak periods, which can lead to delays in processing payments or accessing information.
- Identity Theft or Fraud: Unfortunately, there have been instances of identity theft and fraud related to stimulus payments. If you suspect that your payment has been intercepted or stolen, report it to the IRS immediately.
Steps to Resolve the Issue
- Check Your Eligibility: Use the IRS’s online tool to determine if you are eligible for a stimulus payment: https://www.irs.gov/coronavirus/economic-impact-payments
- Verify Bank Account Information: Log into your IRS online account at https://www.irs.gov/payments/view-your-tax-account to confirm that your bank account information is correct.
- Contact Your Bank: Inquire with your bank about the status of your direct deposit. Provide them with the tracking number from your IRS online account or Notice 1444 letter.
- Use the “Get My Payment” Tool: The IRS provides an online tool called “Get My Payment” that allows you to track the status of your stimulus payment: https://www.irs.gov/coronavirus/get-my-payment
- File a Recovery Rebate Credit: If you are eligible for a stimulus payment but did not receive it, you can claim a Recovery Rebate Credit on your 2020 or 2021 tax return.
Additional Information
- The IRS is no longer accepting non-filer information for stimulus payments.
- The third round of stimulus payments was based on your 2021 income, but the IRS used your 2020 tax return (or 2019 tax return if that’s the last one you filed) to estimate it.
- If your income has decreased in 2021, you may be eligible for a larger payment or a payment if you did not receive one previously. You can claim the additional amount on your 2021 tax return.
- The IRS has issued all first, second, and third Economic Impact Payments. You can no longer use the “Get My Payment” application to check your payment status.
- To find the amounts of your Economic Impact Payments, check your IRS online account or IRS EIP notices (Notice 1444, Notice 1444-B, Notice 1444-C, or Letter 6475).
If you have not received your stimulus direct deposit yet, it is important to remain patient and take the necessary steps to resolve the issue. By following the guidance provided in this article, you can increase your chances of receiving your payment promptly and avoid any unnecessary delays. Remember to stay vigilant against fraud and report any suspicious activity to the IRS.
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FAQ
Why haven t i received my stimulus direct deposit?
What if I haven’t received my stimulus check?
What time does stimulus direct deposit hit?
What if my stimulus check doesn’t arrive by direct deposit?
For more on the checks, here’s when the IRS will start sending the third checks, how much you could qualify for with this payment and how to track your payment with the IRS. If your stimulus check doesn’t arrive by direct deposit by the end of today, the IRS says you’ll get a paper check or EIP card — even if there’s been a direct deposit error.
How do I know if my stimulus payment is direct deposited?
Here are some of the issues people are seeing, either with their actual deposit or with the Get My Payment tool. If the Get My Payment tool tells you your check will be direct-deposited, it will also provide the last four digits of the number of the bank account into which your stimulus payment will be deposited.
How many stimulus payments were made through direct deposit?
By March 17, more than 90 million of the $1,400 stimulus payments were made through direct deposit, the IRS said, with 17 million more estimated to go out by March 24, The Washington Post reported. Over 75% of the first round of payments and more than 80% of the second payments were distributed via direct deposit.
What if I don’t receive my stimulus payment?
If you haven’t received the full amount, wait until you get your Notice 1444, Your Economic Impact Payment, from the IRS. That letter should have the correct amount of your stimulus payment. If you don’t receive deposits or checks in that amount, you may have to file a Recovery Rebate Credit (see below).