If you’re still waiting for your $600 stimulus payment, here’s all you need to know about this deadline, what it means if the IRS doesn’t disburse your funds in time, and how you can claim funds even if you don’t get your payment by January 15th, 2021.
On January 15th, 2021 the IRS and Treasury department will stop sending pandemic relief payments to Americans.
While some are receiving their payments successfully, others are left impatiently waiting for funds to arrive. Even more distressing for Americans who haven’t received their relief payment yet is that, if the IRS and Treasury departments do not successfully disburse their funds by the set deadline, they’ll have to take alternative means to claim their $600 payment.
If the IRS cannot disburse funds successfully to you by January 15th, 2021, those funds will still be available to claim, just not as a direct deposit payment, card or check. Instead, eligible citizens who didn’t get money disbursed in time will have to claim the $600 payment as a tax credit called the Recovery Rebate Credit in order to receive their money.
Americans who didn’t qualify to file taxes this year, but qualified to receive a stimulus payment will still have to file a return and claim a tax credit in order to receive their funds.
If you’re not sure if your payment was sent or not, use the IRS’s “Get My Payment’ tool to look up the status of your payment and troubleshoot any issues. You will have to submit personal information on this site in order to receive information including your:
Be sure to gather any documents you may need to reference in order to complete this form accurately to avoid any errors or issues with your Get My Payment request.
Lawmakers who created the second stimulus bill included the deadline of January 15th. While their reasoning for including this deadline wasn’t made explicit, it’s been speculated that lawmakers intentionally set the deadline near to the beginning of tax season so those who didn't get their payment on time could claim a rebate in their upcoming 2020 tax filing instead of having to wait until the end of 2021 to claim their stimulus payment.
While lawmakers may have originally thought that asking some Americans to claim their stimulus payment in their tax returns was a more reliable way to offer stimulus money to people who ran into common payment delivery issues like:
Others feel that this process creates even more delays between Americans and their stimulus payments, as Americans who don’t receive their checks will already have to wait to know whether their payment was sent, then file a 2020 tax return and wait for their return money to be deposited after filing, which can take weeks in some cases.
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