Financial assistance in connection with the coronavirus: why a check can come for a lower amount than you expected

Monday, may 11, the internal revenue Service (IRS) announced that it has sent 130 million checks of Federal assistance, and that “more are on the way.” This writes Fortune.

Финпомощь в связи с коронавирусом: почему чек может прийти на меньшую сумму, чем вы ожидали

Photo: Shutterstock

Anyone who is still waiting for its check, can check the payment status on the portal Get My Payment.

Also, the IRS has outlined several reasons for which people expect a check for one amount, and get quite another.

What to do when check is not on that bag, what did you expect

The most common reason that the IRS was working on old information. This could happen because either you have not filed your return for the year 2019, you filed it, but it has not yet been processed when the IRS calculated your payment (in this case, the Department will default to use information from your tax return for the year 2018).

In this case, changes (such as higher or lower income, birth or adoption of a child) was not recorded. The IRS explains: “In many cases, taxpayers have the option to demand an additional amount in the tax Declaration 2020 that they will submit in 2021. This may include up to $500 for each child, which was not included in the payment of Federal assistance”.

Why didn’t I receive a child’s payment of $500

Another reason why the amount you received may be different than expected, may lie in the discrepancy of whether your claimed dependent is entitled to receive a check in the amount of $500. To receive a payment, taxpayers must have a child to live with him more than six months and provide at least half of its contents.

One more note: “Parents who are not married to each other and do not submit a joint return, can not simultaneously claim that their child was a dependent.” In addition, students usually are not entitled to an additional payment of $500.

Why financial aid has been reduced

The IRS explained that overdue child support can be deducted from the payment and foreclosure by creditors.

What can I do if the check amount is incorrect

The Agency recommends everyone keep a copy of the letter that they receive from the IRS (sent after receipt of payment).

“In many cases, taxpayers who received a lower-than-expected payment, can qualify to receive additional amounts in the beginning of next year when they will submit the Declaration for Federal income tax for the year 2020”, — stated in the message Department.

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.
  • The majority of Americans will receive Federal payments government assistance in connection with the coronavirus automatically, but there are several reasons why payment may be delayed.
  • 27 April it became known that the IRS has improved the tool for tracking payments in connection with the coronavirus: what has changed.
  • What to do if a tool the IRS Get My Payment sends an error message: a simple life hack.
  • The IRS has set a deadline before which the user can enter the details of your account on the site Get My Payment to accelerate the receipt of Federal assistance in connection with the coronavirus.

Different

IN THE UNITED STATES

help

coronavirus

Special projects

FacebookVkontakte

bookmark