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Nearly 9 Million Unclaimed Stimulus Checks May Be Forfeited After October 15

Nearly 9 Million Unclaimed Stimulus Checks May Be Forfeited After October 15 

On September 17, the IRS made an announcement that at least 8.7 million Americans, 2 million of whom are Californians, are yet to receive their $1200 stimulus checks. Individuals in this category are mostly low-income earners who are not compelled by law to document their tax returns and other Americans that do not have their data documented with the IRS, the tax agency said.

The IRS issued another statement persuading folks who are yet to receive their EIPs to register. For people who do not realize they can receive the Economic Impact Payment (EIP) or do not know how to go about registration, the IRS has announced the provisions and modes of registration.

The requirements for eligibility to receive the $1200 stimulus check as stipulated in the CARES Act passed March 27 to help those affected by the COVID-19 pandemic are not rigid. Being homeless or unemployed won’t prevent you from claiming your stimulus check. The $1200 dollars check can also be received by no-income earners and individuals who have not filed their Federal tax return for some years. All they have to do is use the IRS Non-Filers tool to receive their EIP latest by October 25.

The $1200 inducement check has been provided to help low-income or no-income earners, as well as people who are homeless or unemployed. You can also help spread the information if you know someone in this group who has still not collected their check. The IRS has urged people in this category to sign up early so as to be able to receive their checks soon.

According to the statement issued by the IRS, US Citizens, permanent residents, and qualifying resident aliens are eligible to receive the payment even if they do not earn money or pay taxes.

To be eligible you should, individuals should have a valid social security number; not be dependent on any other taxpayer; and be a single individual who makes a total income of $75,000 or less, head of a family who makes $150,000 or less, or a married couple who jointly make $150,000.

Those who earn more than stipulated above are eligible for reduced payments. Reduced payments will be given to individuals who make  $99,000 or less per year, head of a family who makes $136,500 or less per year, and a married couple with a joint account who earn $198,000 or less per year.

The people in the categories stated are to use the Non-Filers tool. The tool was designed by the IRS and the Free File Alliance to help Americans who do not file taxes to claim their checks. The tool contains instructions in both English and Spanish to guide people during the registration process. Individuals and married couples who earn $12,200 and $24,400 or less respectively are not required by law to file taxes.

The IRS has made Non-Filers tool available for individuals who make $12,200 or less and married couples who jointly earn $24,400 or less; people who do not earn money at all; people who are homeless; and people who have never had a job or have not had a job in a while. The Non-Filers tool cannot be used by people who have filed their 2018 or 2019 tax returns but are yet to receive their stimulus checks. People in this category are to use the Get My Payment tool to view the status of their EIP.

Individuals required by law to file their 2018 or 2019 tax returns and are yet to do so. To receive the stimulus check from the IRS, ensure you file your tax return if this applies to you.

The IRS is also urging employers, community heads, and others who are willing to help spread the message about the stimulus checks to do so. Individuals who you feel earn $12,200 and married couples who jointly earn $24,400 should be notified so they can receive their checks after registration.

Community heads and employers in disadvantaged and marginalized areas should help get the information to low-income, no-income, and other underprivileged people so they can use the Non-Filers tool to claim their checks.

Source: fool.com

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