The economy of the United States was not in the greatest of health in March 2021. Unemployment remained high, and numerous COVID-19 limitations remained in effect as a result of vaccinations not being readily accessible at the time of writing.
Taking note of the fact that many Americans were struggling to pay their bills, Congress authorized a third wave of stimulus payments, which began arriving in Americans’ bank accounts the next month. However, not everyone who was eligible for a stimulus payment received one within a reasonable amount of time.
On the contrary, according to a recent estimate, about 645,000 people who were eligible for a stimulus payment had not yet received one as of September 2021. And some of those individuals may be entitled to a payout at this time.
A System That Is Not Without Flaws
Once the American Rescue Plan, which included the third wave of stimulus checks, was enacted into law, the Internal Revenue Service set to work distributing the funds. However, the Internal Revenue Service (IRS) could only depend on the information it had from prior years’ tax returns in order to decide who was qualified for that money.
Tax return non-filers (those who were not obligated to submit a tax return) were given the choice to sign up for a stimulus. However, this was not the case for everyone. As a result, according to a recent analysis by the United States Department of the Treasury, approximately 645,000 people had not received their stimulus payments by September 2021, which was six months after the checks began to be distributed.
To be fair, it’s likely that some of those 645,000 workers have received their paychecks since the beginning of September. However, it is possible that a significant number of individuals are still without access to that money.
Fortunately, the Treasury Inspector General for Tax Administration (which is essentially a watchdog unit within the Department of the Treasury) discovered that the IRS had correctly issued payments to nearly 167 million people as of mid-September, accounting for almost 99.5 percent of the total number of Americans who were eligible for a stimulus payment at the time. At the same time, as of the middle of September, $1.6 billion in stimulus funds had not been received.
How to Make a Claim for a Stimulus Payout Right Now
If you did not get a third stimulus check, it is not too late to apply for a reimbursement. However, in order to get your reimbursement, you must file a tax return for 2021 and claim the Recovery Rebate Credit.
Taxes are due on April 18th of this calendar year. If you want assistance in completing your tax return, you may be eligible for no-cost assistance.
The Volunteer Income Tax Assistance (VITA) program, for example, is intended to assist low-income people with their tax preparation. If you make less than the median income or if you have trouble communicating in English, you may be eligible. There’s also the Tax Counseling for the Elderly (TCE) program, which is meant for people over the age of 60 who need assistance with their taxes.
If you believe you are owed a stimulus payment from the previous year, this is money you do not want to pass upon. Living expenses are rising as a result of general inflation, and the Ukraine crisis has caused gas prices to rise as a result of this. It may mean the difference between making ends meet and struggling financially during these terrible times if you receive a $1,400 windfall.
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