Some Americans notice that this week to their Bank account comes a second unexpected check from the IRS (IRS). Many wonder whether there was some mistake or a glitch in the system. Forbes found out what happened actually.
Federal aid in connection with the coronavirus, according to the Law CARES, was adopted in March. The law provides $1 200 assistance to individual taxpayers who earned less than $75,000 per year. Joint applicants (married couples) who earned less than $150,000 per year, received $2 400. Persons with dependants aged 16 years and younger received an additional $500 for each dependent.
But there was one technical problem that led to the underpayment, and now the IRS is trying to fix it.
If you met the criteria, but were not required to file a tax return and used the tool the IRS Non-Filers: Enter Payment Info Here to enter your information to may 17, occurred programming error, which did not include any of your dependants in payment.
The IRS sent you your check, but you did not receive $500 for each eligible dependent. The IRS explained that there was a programming error, which they corrected on may 17, so only those people who have entered up to this day, received $500 for each dependent.
If you wondered what happened to the money, now you know why the amount was missing. Fortunately, you don’t need to do anything because the IRS send the missing amount automatically.
The IRS has updated its web site to explain the delivery schedule of payments and how they will be implemented.
“The IRS will automatically give an additional $500 for each dependent, subject to the requirements at the beginning of August for those who used the tool the IRS Non-Filers have until may 17, 2020. Direct Deposit payments are scheduled for August 5, 2020, and paper checks or debit cards you plan to mail on 7 August. You can use the Get My Payment to check the status of payments”, – stated in the message the IRS.
If you receive your support through direct Deposit, an extra $ 500 per dependent who meets the requirements will be transferred to the Bank account.
If you have received your check in the mail, an additional $500 per dependent that meet the criteria will be sent to your registered address.
If you used the tool of Non-Filers on may 17 or later, your payment already included the $500.
For the most part, you will receive an additional $500 for each dependent in the same way as you received your first check. It is unclear how to get extra money those Americans who have received your payment as debit cards since they were replaced at a late stage of issuing payments. Most likely, the money will be sent as a cheque in the mail.