The Quickest Way to Get Your Next Stimulus Check
As the spread of the COVID-19 pandemic continues to be a major global concern, millions of people around the world have been struggling with financial hardship due to job loss, salary cuts, and reduced hours. Governments have responded to this crisis by providing financial relief to their citizens through stimulus checks. The idea is to provide financial aid to people so they can make ends meet until the economy starts to recover.
The first round of stimulus checks provided by the Internal Revenue Service (IRS) in 2020 had many people struggling to get their money as quickly as possible. Although it may not be possible to get instant relief, there are some quick and easy tips that can help you get your next stimulus check sooner rather than later. Here’s how you can fast track your way to getting your next stimulus check.
Check Your Eligibility
The first step in receiving your next stimulus check is to check your eligibility for the payment. Both the 2020 and 2021 stimulus packages use the same eligibility requirements such as income levels, filing status, dependent status, and other qualifications.
The IRS has created a number of helpful tools to help you determine your eligibility quickly, such as the Non-Filers tool and the Get My Payment portal. If you meet all the eligibility requirements, you can proceed to the next step.
Update Your Contact and Financial Information
If you did not receive your first stimulus check or you received an unsolicited payment but it was for the wrong amount, the likely cause may be outdated information the IRS has about you. You may need to update your contact information, financial information, or both.
You can do this via the Get My Payment portal, which can be used to check the status of your payment, update your bank account information, confirm your identity, and enter your direct deposit information.
Check Your Tax Return
If you meet the eligibility requirements and have your contact and financial information up-to-date with the IRS, then it’s time to check your tax return. The IRS is using information from your most recent tax return to calculate your Economic Impact Payment (EIP) amount.
If the IRS has your most recent tax return, it will calculate your payment amount and you will receive it within three weeks of filing. However, if you have not filed your 2019 or 2020 tax returns yet, you will still be eligible for a payment but it will take longer to be processed.
Resubmit Payment Information
If you meet the eligibility requirements but have still not received your stimulus check or if the payment was for the wrong amount, then you may need to resubmit payment information. To do this, you can use the “Get My Payment” portal from the internal revenue services.
This portal can be used to update your payment information as well as your banking information. You may also need to confirm your identity and reenter your direct deposit information.
Track Your Stimulus Payment
If you are still unsure about the status of your payment, you can track it using the Get My Payment portal offered by the IRS. This portal can be used to check the status of your payment and the amount you are expecting to receive.
You can also use the portal to make sure your payment has been received by your financial institution. The portal will also tell you if your payment is coming via mail versus direct deposit.
Contact The IRS
If you have still not received your stimulus check and you have followed all the steps above, you may need to contact the IRS. The IRS offers a number of different contact options, including phone, email, and mail.
You can call the IRS directly on their helpline number (1-800-829-1040) to talk to a representative about your payment. Alternatively, you can submit an inquiry online to the IRS using their web form or write to them at their mailing address.
Speak With Your Bank
Another option is to contact your bank or financial institution to see if they have received your payment. Your bank should be able to tell you if the payment has been received and your account balance is reflecting it.
If your bank does not have the payment, then you may need to get in touch with the IRS again or consider filing for an appeal to try and get the payment adjusted.
Getting your next EIP or stimulus check doesn’t have to be a tedious process. Following the tips above, you can fast track your way to claiming your stimulus payment. Firstly, make sure that you are eligible for the payment and have your contact and financial information up-to-date with the IRS. Then, you can check your tax return, resubmit payment information if need be, track your payment, and contact the IRS if needed. Finally, if you haven’t received your payment, get in touch with your bank to double-check. Taking these steps should help you get your stimulus check as soon as possible.
