After a second round of stimulus payments was included in a recently passed COVID-19 relief bill, millions of Americans received the $600 payments directly to their bank accounts.
While the money cleared for some, others are finding an odd Internal Revenue Service error when investigating their missing payment.
The error, “Payment Status #2 — Not Available,” has been confirmed by the IRS to mean that those seeing it will not receive a stimulus payment unless additional steps are taken.
Thankfully, the agency spells out the meaning of the error and its remedy on the website.
“If [the ‘Get My Payment’ tool] shows ‘Payment Status #2 — Not Available,’ then you will not receive a second Economic Impact Payment and instead you need to claim the Recovery Rebate Credit on your 2020 Tax Return,” the site states.
“The IRS advises people that if they don’t receive their Economic Impact Payment, they should file their 2020 tax return electronically and claim the Recovery Rebate Credit on their tax return to get their payment and any refund as quickly as possible,” it says.
The IRS’ Rebate Recovery Credit page explains how to file the claim, along with tax forms, to ensure stimulus money reaches every eligible American citizen.
When claimed in tax returns filed for the year 2020, the Recovery Rebate Credit can be applied to the amount owed.
The stimulus payments, which total $600 for individuals and $1,200 for couples, were the subject of a major debate over the past months concerning the amount that should be given to Americans.
While many are now only looking forward to several hundred dollars in relief, President Donald Trump and others fought for the checks to be increased to $2,000 per person in light of the economic hardships the COVID-19 pandemic has wrought on Americans.
Despite the relief bill doling out hundreds of millions for foreign nations, some lawmakers pushed back against the increased payments to American citizens.
As a result, the stimulus checks were kept at the $600 level after a proposed revision to the bill failed to pass the Senate.
Presumptive President-elect Joe Biden recently capitalized on the checks’ popularity, promising voters that more money would be coming if Democrats were to win the Georgia runoff elections Tuesday and take control of the Senate.
It’s unclear if the checks would eventually stop being offered to the public or simply become a routine part of further “relief” legislation under Democratic leadership.
For Americans who thought they would not be receiving payments during the second round, the IRS’ announcement offers a way to claim their money.
While $600 might seem like a small amount, anything is welcome relief to those struggling under the financial hardship of lockdowns and business closures in 2020.
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