Author: Alice Peacock
This post originally appeared on World News – breaking international headlines and exclusives | The Sun
THOUSANDS of Americans are still reportedly waiting to receive the latest stimulus check from the federal government.
While millions of the checks have reportedly been dispatched to Covid-hit Americans, those who haven’t yet received them may be wondering what the much-anticipated envelopes look like.
While some Americans are receiving direct stimulus deposits to their bank accounts, a significant number of Americans are getting their payments in the mail, either as a paper check or as a prepaid EIP card.
The IRS and the U.S. Department of the Treasury are therefore urging people who are eligible for the stimulus payments and have not received a direct deposit, to watch their mail carefully.
The federal government has also shared sample images of what the envelopes, checks and EIP cards look like.
“Paper checks will arrive by mail in a white envelope from the U.S. Department of the Treasury,” the IRS said.
“For those taxpayers who received their tax refund by mail, this paper check will look similar, but will be labeled as an ‘Economic Impact Payment’ in the memo field.”
Meanwhile, the IRS is urging taxpayers who have not received the cash, or who got a less-than-expected amount, to file a federal tax return in order to claim it.
Essentially, Americans who saw their income reduced or lost their job, or who had a child, got married or could no longer be claimed as a dependent last year, should file one as soon as possible.
This will guarantee a stimulus payment or a “plus-up” payment which is for those who did not get their entire payments from the three rounds of federal stimulus checks.
This is worth $ 1,200, $ 600 and $ 1,400.
Americans who are owed more money have two ways to claim the funds.
One is you can get a recovery rebate worksheet to calculate how much you should receive from the original two checks.
Then, you claim that amount on Line 30 of Form 1040 and Form 1040-SR when filing your tax returns.
And that money will arrive as part of your refund check.
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If you are owed more based on your 2020 tax returns, the IRS will automatically adjust the payment after you file your returns with a “plus-up” check.
The IRS extended the traditional tax-filing deadline from April 15 to May 17 earlier this year.
This was to process a slew of pandemic-related changes to the tax code.