Haven’t Received Your December Stimulus Checks? Here’s What to Do

News: The Economic Impact Payments, commonly referred to as stimulus checks, have been implemented by the United States federal government. This initiative aims to offer financial assistance to individuals impacted by the crisis resulting from the COVID-19 pandemic. The primary goal of these payments is to provide support to eligible citizens during the ongoing pandemic, enabling them to address essential needs and cope with escalating prices without exacerbating inflation.

The December Stimulus: What You Need to Know

Anticipation surrounds the December Stimulus, commonly known as the fourth stimulus, as many eagerly await its arrival. If you have engaged in previous IRS Stimulus Check programs and are currently awaiting the December 2023 installment, it is advisable to stay informed by consulting the official updates. Keep yourself apprised of the latest information to discover whether the IRS has released the much-anticipated fourth stimulus check.

Eligibility and Payment Amount

Individuals with incomes below specific thresholds are set to receive $1,400 through either a direct transfer or a mailed check. The income limits are $75,000 for individuals, $112,500 for heads of households, and $150,000 for couples filing jointly. Additionally, households will be entitled to an extra $1,400 for each dependent listed on their most recent tax returns. While some individuals with incomes exceeding the thresholds may qualify for a partial payment, akin to the previous two rounds, the eligibility for these amounts will phase out more rapidly than in earlier relief acts. Notably, those who received payments in previous rounds will not be eligible for funds this time around.

Tracking Your Stimulus Check

To find out when and where stimulus checks will be sent, Americans can use the “Get My Payment” tool developed by the IRS. The tool provides real-time updates on the scheduled delivery date and the current status of the payment. Additionally, the official government website of the UK provides the option to check the status of the December stimulus payment.

Claiming Missed Stimulus Payments

If you did not receive your initial, second, or third stimulus check, there’s still an avenue to claim those payments. You can do so by treating them as a tax credit, which will be disbursed as part of your tax refund. The mechanism behind these stimulus checks is the Recovery Rebate Credit, a federal tax credit. Upon filing your taxes, you will be eligible to receive the December stimulus payment. The specific tax return you are required to file will hinge on your eligibility for the stimulus checks.

Filing Taxes for Missed Stimulus Payments

Even if you’ve missed the filing deadline, you can still submit your tax return to claim your first and second stimulus payments. The late filing fee is typically waived if you don’t owe any outstanding taxes. Nevertheless, it’s crucial to note that failing to file or pay taxes promptly can lead to penalties and fines. Therefore, it’s advisable to address any outstanding tax obligations promptly to avoid potential financial consequences.

Frequently Asked Questions

Q: Why was the Stimulus Check introduced?

A: The Stimulus Check was implemented to provide financial assistance to eligible citizens during the pandemic, aiming to help them address basic needs and mitigate the impact of rising prices without contributing to increased inflation.

Q: How do I monitor the status of my stimulus check?

A: You can utilize the “Get My Payment” tool provided by the IRS to track your stimulus check. This tool offers real-time updates on the scheduled delivery date and the current status of the payment.

Q: What steps should I take if I missed the tax filing deadline?

A: If you missed the filing deadline, you can still submit your tax return to receive your first and second stimulus payments. The late filing fee is typically waived if you have no outstanding taxes. However, be aware that failure to file or pay taxes promptly can lead to penalties and fines.