Your $1,400 stimulus check could be delayed if you’ve recently moved or changed banks – here’s how to get your cash
YOUR $1,400 stimulus check could be delayed if you’ve recently moved or changed banks.
Taxpayers are looking forward to receiving their third round of Covid relief checks after President Joe Biden's $1.9trillion stimulus bill was approved last Wednesday.
However, some Americans may get their money later than others if they recently moved, changed banks, or the IRS doesn't have your direct deposit information.
If you're in the group of taxpayers who recently changed banks since filing your last tax return – it's possible the check was sent to your old account.
Anyone with a relief check that was accidentally sent to the wrong financial institution can live stress-free knowing the bank will return the payments to the IRS.
The Internal Revenue Service explains: "If your bank information is invalid or the account has been closed, the bank will return your payment to the IRS.
"We will mail it to you by check at the address we have on file."
If the address on file needs to be updated – the quickest way to correct it is to file your 2020 tax return electronically.
And if the payment is unable to be deliver, Americans can get their payment reissued by setting up direct deposit with Get My Payment.
"After your payment is returned to the IRS, your payment status will update to 'Need More Information,'" the IRS explains.
"You can then choose direct deposit to a: Bank account, Prepaid debit card (must be reloadable), and alternative financial products that have a routing and account number associated with them."
Meanwhile, a group of Democratic senators is begging Biden to provide recurring stimulus checks to low-income Americans throughout the Covid pandemic.
Despite the most recent stimulus bill including $1,400 checks – which are set to be sent out in full to Americans who make up to $75,000 and married couples who make up to $150,000 a year – 11 Dems said families need regular help until the pandemic ends.
They have penned a letter urging Biden to provide ongoing relief in his next major economic package to give struggling households stability.
In the letter senators wrote: "We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan."
“This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads," the letter continued.
"Families should not be at the mercy of constantly-shifting legislative timelines and ad hoc solutions."
Millions of Americans will get the latest stimulus check and families could get even more with the payment adding up to $2,800 for couples and $5,600 for those with kids.
Individuals get $1,400 and so do dependents, which can include children and adult dependents too.
The new bill outlines that dependents can be older than 16.
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