Financial assistance in connection with the coronavirus: the reasons why payment may be delayed

The majority of Americans will receive Federal payments government assistance in connection with the coronavirus automatically, reports Fox News with reference to the internal revenue Service of the USA (IRS). But there are several reasons why payment may be delayed.

Финпомощь в связи с коронавирусом: причины, по которым выплата может задерживаться

Photo: Shutterstock

More than 80 million Americans have already received the long-awaited Federal aid in connection with the coronavirus in their Bank accounts. If you was not among them, here are a few possible reasons for the delayed payment.

The head of the Department of the Treasury, USA Steven Mnuchin urged Americans to make sure their information for direct cash transfer was submitted to the internal revenue Service using new tool, Get My Payment, which allows everyone to provide their Bank information to receive funds.

Финпомощь в связи с коронавирусом: причины, по которым выплата может задерживаться

Photo: twitter.com/stevenmnuchin1

If you filed a tax return or 2019 2018, which will be used by the IRS to calculate the right for Federal aid, but did not provide banking information to receive direct money transfer, the tool can be used to enter the required data. You can also track payments online through a private portal created by the IRS.

Possible reasons why you haven’t received your money

You haven’t received your tax refund

If you filed a tax return in 2018 or 2019, you also had to get a refund of taxes for these years by direct funds transfer to your account. If you still owe money, the IRS will not use declared information on the Bank account for transfer of financial aid.

You received a tax refund into a temporary account

If you received a tax refund, but he entered to a temporary account created by the organization for the tax refund, you will need to provide your information for direct remittance to the IRS using the tool to Get My Payment.

You have requested a tax refund for the last Declaration in the form of a check

Similarly, if you received a refund by return for the 2019 cheque, not a Bank account, it is likely that financial assistance in connection with the coronavirus will also be sent to you in the form of a paper check. In this case you can also provide information for the direct cash transfer through online tool Get My Payment to get the money in your Bank account and not to wait for a check.

Error in the account number

Another scenario: maybe your money has gone to the wrong Bank account. Many Americans have already applied to the IRS with this problem. On the portal the IRS Get My Payment it says that if you do not see the payment that was sent to your account, contact your Bank to check its status. The portal also shows the last four digits of the Bank account associated with the payment. Compare them with the data of your account to make sure that was not a mistake.

If a mistake was made, then the money is re-send in a cheque. They are not going anywhere, because if the funds were sent to Bank account that does not match the name of the specified recipient, the transfer shall be rejected by the Bank and returned to the IRS.

In any case, you need to contact the IRS and report the problem.

The speed with which the money is distributed, depends on the method of filing tax returns and whether the government your Bank information. Electronic payments can be made faster than sending cash cheques, so it is recommended to submit your banking information to the IRS for any direct payments.

As previously wrote ForumDaily:

  • Federal payments in connection with the coronavirus will not be taxed.
  • If the government does not have the number of your direct Bank account, then some will have to wait for mailed checks until September.
  • According to the bailout package, there are categories of persons who, although the income doesn’t get help. They should be listed here.
  • The topic of governmental support is actively used by fraudsters. Their approach and ways to defend against them — the link.
  • April 15, the IRS has launched an online tool that will allow you to enter information about your account, track payment and get the money as soon as possible. Details about how to use it, read here.
  • After the commencement of payments, many have reported that when checking the payment status online, they found that the money was sent to the wrong account, including the dead.

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