There is no decision yet on another round of stimulus checks. So, it is important that you make the most of your first check and resolve any issues as soon as possible. One deadline to resolve the issue with the dependent payment just passed by (i.e. on September 30). In case you missed the September deadline, don’t worry, you can still claim the coronavirus stimulus check for a dependent, but not this year.
Q2 2020 hedge fund letters, conferences and more
September 30 was the last day to claim the dependent payment if you didn’t already get it along with the stimulus check. Those who applied before the deadline and claimed the dependent payment, can expect to receive it this year. In fact, the IRS is expected to start sending the checks this month.
Those who somehow missed this deadline, may still get the payment, but not this year. Rather, they can claim the dependent payment on their 2020 tax returns. The IRS will use the 2019 or 2018 tax return to determine how much you are owed. The agency is expected to post this information online around the time of tax season next year.
As per the IRS, those who missed the September 30 deadline, will get their coronavirus stimulus check for a dependent with their 2020 tax return, in 2021. Thus, if you are unsure whether or not you are owed the dependent payment, or if you got the correct dependent payment, you still have time to determine that.
You can also use the online stimulus check calculators to get an idea on the amount you are eligible for. To use the calculator, you must know your adjusted gross income.
Don’t miss the October 15 deadline
Another deadline approaching fast is October 15. This deadline is for those who may be eligible for the coronavirus stimulus check but haven’t yet claimed it. It is estimated that about 9 million people haven’t yet claimed the payment. Such users have until October 15 to file for their payment.
These people are mostly nonfilers, who were not required to file their 2018 and 2019 tax return. Such people are not likely aware that they need to fill out an additional form to claim their coronavirus stimulus checks.
The IRS is also sending letters (IRS Notice 1444-A) to such people, informing that they may be eligible for the stimulus payment. Further, the letter informs about what they need to do to determine their eligibility and how to claim the payment. Such users can also claim the payment next year if they miss the October 15 deadline.
For more details and to get the status of your payment, visit the IRS Get My Payment webpage. You need to enter your Social Security number, date of birth, home address and ZIP code to get the payment information.
