Congress is expected to reach a decision on the next coronavirus stimulus package this week. However, many haven’t received their first stimulus checks yet, including those who didn’t get the payment for dependents. The government is now sending payment to those who didn’t get the coronavirus stimulus checks for the eligible dependent (or dependents).
Coronavirus stimulus checks for dependents
There were a lot of issues with the first stimulus checks. Some of those were: payments sent to the deceased and foreign workers, payments send to the wrong address and payment of the wrong amount. One more issue that many Americans faced was that their coronavirus stimulus checks didn’t include the payment for the dependents.
Seth Klarman: Investing Is Art First, Craft Second And Science Third
Such a problem was mainly faced by those individuals and couples who were not required to file taxes. These people were asked to use the IRS non-filer tool to provide information on the eligible dependents.
According to the IRS, if such users had provided the information prior to May 17, but haven’t yet received the payment for the dependents, they will start to get the coronavirus stimulus checks from this week.
The stimulus checks for dependents for whom the IRS has direct deposit information, were scheduled to go out on August 5. On the other hand, paper checks and card payments are scheduled to go out on August 7.
“The IRS will automatically issue the additional $500 EIP per qualifying child to affected individuals in early August for those who used the Non-Filers tool before May 17, 2020,” the IRS says.
How will you get the extra payment?
You will get the payment for dependents in the same way you got the initial payment. For example, if you got the initial stimulus payment via direct deposit, then the additional payment would also be sent through direct deposit. If you got the initial payment via check, then the next payment would also come the same way.
The IRS suggests you to use the Get My Payment tool to get an update on the $500 dependent payments. Further, the agency says that it will be sending a confirmation letter when it issues the payment.
As per the IRS, those who used the non-filer tool on or after May 17 would have gotten their dependent pay along with their coronavirus stimulus checks.
Under the CARES Act, qualifying Americans get up to $1,200 in stimulus checks. Married couples who file jointly get up to $2,400. Dependents below 17 were eligible for $500 in stimulus payment.