These could be some of the reasons why many people may not have received it yet, or may have delays in receiving the government’s planned economic incentive check.
More than 80 million Americans will receive an economic stimulus check, authorized by the Coronavirus Economic Assistance, Relief and Security Act, CARES, according to the Internal Revenue Service, but many may be left behind for different reasons.
The checks are scheduled to be issued weekly, at a rhythm of 5 million per week through September, with delivery beginning for those taxpayers with lower incomes.
Some reasons that delay the sending of the stimulus check
Your bank account information
Perhaps you have changed your bank and it is possible that the stimulus check has been sent to your old bank account which may be closed or disabled and may not have your details updated correctly. If your bank account was closed recently, the bank will reject the aid deposit and it will automatically be returned to the IRS records address, so it will arrive by paper check physically at the address you declared. Another option is to correct your private information as soon as possible, so it can be sent back to you by direct deposit to your new bank.
Direct Deposit Information
This can happen if you have not filed taxes for a long period of time or are exempt from federal taxes. If your basic information is not up to date, this may be one of the reasons you are late in receiving your federal economic stimulus check.
The IRS gives priority to those who have filed their taxes between 2018-2019. If you have not yet been able to do so, please do so as soon as possible to be considered for the economic incentive you are eligible for. The tax filing deadline was extended to July 15, 2020. Hurry up!
If as a taxpayer you have hired the services of a tax professional to prepare your annual return, the IRS economic stimulus may have been deposited into a temporary account set up by your tax professional. In this case, try to contact him as soon as possible to have him transfer the money received into your current personal account.
Remember that the process of sending and receiving the economic incentive could take up to 21 days, the IRS said.