Stimulus checks can be a source of relief and stress. If you fall into the ladder position, I’m here for you. Hi, I’m Bette Hochberger, CPA CGMA, and I want to thank you all for reaching out to me with questions regarding your stimulus checks. I’m flattered at how many people reached out to us, but it’s too many for me to call you each back, so I wanted to get you an answer as soon as possible. These are the main questions we’ve been receiving.
Question number one. Why didn’t I get my Stimulus Check?
There are a few possibilities. Possibility one, you make too much money. Each stimulus payment has different income thresholds and phase-outs for single, head of household, and married filing jointly. Possibility number two; Someone claimed you as a dependent. Dependency often applies to college students or other young adults whose parents claimed themPossibility number three; non-resident aliens. If you or a spouse are here without legal status, you are not eligible. Possibility number four; No social security number. If you don’t have a social security number valid for employment, you don’t qualify for payment.
Question number two. I am blank. Do I qualify for the Stimulus Check?
Citizens who are living abroad, yes, you do qualify. Resident aliens do qualify, provided you have a social security number valid for employment. Incarcerated citizens do qualify for the stimulus check. So if you or your spouse were incarcerated, that doesn’t impact your status. My child was born or adopted in 2020. You are eligible and can get it with the rebate credit on your tax return.
Question number three. I qualify, but I didn’t get the Stimulus Check. Help me.
This isn’t really a question but a common concern. Unfortunately, there’s no direct way to get the stimulus. Because the stimulus payment was legally structured as an advance on a tax credit, you can file for the credit during your tax filing. Check your 1040 individual tax return to make sure you requested it. If you didn’t, you might need to amend your tax return and fill out a 1040X. Talk to your tax preparer.
Question number four. My income dropped. Why didn’t I get it?
The IRS estimated payment based upon the information they had. If the information is more favorable to you at tax time, the IRS will true up the difference provided you file for it.
I hope you found these answers helpful and that they answered a lot of your questions and good luck, and hopefully, you’ll get your refund soon. Thanks.
