The Internal Revenue Service (IRS) is still processing pending payments from the stimulus check approved during the Covid-19 pandemic. Although the vast majority of payments were sent a long time ago, a million people have yet to receive their money.
This situation corresponds to the third stimulus check, with a maximum value of $1,400 per person. Not everyone meets the requirements to receive it. Let’s look at the exclusion cases and how these payments work.
This check is part of an economic package approved during Joe Biden’s first few months in office, when the pandemic was causing severe economic difficulties.
The goal was to provide financial assistance to families who needed it the most. Despite the program’s launch in 2021, the IRS reported that some individuals had yet to claim their funds as of the end of 2024. As a result, payments will be sent automatically to those who qualify beginning in January 2025.
What is the $1,400 stimulus check?
It is important to note that this is not a new program or the fourth stimulus check.It is more of a second chance for those who did not receive the money at the time due to a mistake or a lack of information. Furthermore, if you have already filed your tax return, there is no need to follow any additional procedures.
Who cannot receive the check?
Despite efforts by the IRS to ensure everyone receives their entitlements, certain groups are still excluded from aid. Here, we explain the main reasons:
You already received the full payment
If you have already received the full third stimulus check, you will not be eligible for this additional payment. This process is only for those who did not receive the entire amount or did not claim it at the time.
Errors in the recovery rebate credit
Many individuals who qualified for this payment made mistakes when filing their 2021 tax returns. For example, they left the Recovery Rebate Credit section blank or entered $0 when they were actually eligible for more. However, if you completed that section correctly and have already received your refund, you will not receive an additional check.
Income above the allowed limit
The maximum amount of $1,400 is not available to all. There are income restrictions that govern who can receive it. For example, if you earn more than $75,000 per year as an individual taxpayer or $150,000 if you file a joint return, you are not eligible. If you are slightly above these limits, you will receive a reduced amount until you reach $0.
You did not file a tax return
Although the IRS can process some payments automatically, if you did not file a 2021 tax return, your information is most likely not in their system. Even if you qualify, you may be unable to receive this assistance.
How will the payment arrive?
Payments will be made via direct deposit to the bank accounts that individuals registered when filing their 2023 tax returns. If you do not have a registered bank account, you will receive a physical check in the mail. To avoid problems or delays, you must keep your tax information up to date.
The IRS has identified several reasons why individuals did not claim this check at the time. One of the most common errors was leaving the Recovery Rebate Credit section blank or incorrectly assuming that they were not eligible. Some people were unaware that they were eligible for this benefit.
If you believe you meet the requirements but do not receive the payment by early 2025, contact the IRS. Remember that if your tax information has already been registered, there is no need to submit any additional requests.
The $1,400 stimulus check provides new opportunities for people who did not previously receive this assistance. However, not everyone qualifies, and the criteria are clearly defined. If you are eligible for it, make sure your tax information is up to date to avoid problems.
Also See:- Exact date of the $1,702 stimulus check
