Economy

IRS Urges Americans To Claim Stimulus Payments

IRS Urges Americans To Claim Stimulus Payments

It’s the last chance for taxpayers to collect a stimulus payment check.

The Internal Revenue Service (IRS) announced on Wednesday (Sept. 9) that it plans to mail letters to approximately nine million Americans who typically don’t file federal income tax returns and may be eligible for, but failed to claim, an economic impact payment. The letters will urge recipients to register at IRS.gov by Oct. 15 to receive their payment by year's end. 

These payments are part of the CARES Act that was approved by Congress and the White House in March. With some restrictions, individuals should have received $1,200, or $2,400 for couples, plus $500 for each dependent under 17 years old. 

“Time is running out this year for the IRS to issue payments,” said IRS Commissioner Chuck Rettig in a statement. “We are taking this extra step to help Americans who may not know they could be eligible for this payment or don't know how to register for one. People who aren’t required to file a tax return can quickly register on IRS.gov and still get their money this year.”

The letters are being sent to Americans who did not file a return for 2018 or 2019. Based on an internal analysis, these are people who don't typically have a tax return filing requirement because they have very low incomes or are independent contractors.

The mailing, which will start going out around Sept. 24, will be delivered from an IRS address.

Two weeks after applicants register, they can track the status of their payment using the Get My Payment tool on IRS.gov.

Last month, the IRS and the U.S. Department of the Treasury said they planned to mail interest payments totaling $18 on average to nearly 14 million Americans who filed their tax returns in the last few months. The payments are intended for those who made a tax filing by the deadline on July 15 and received a refund in the last 90 days or will receive one soon.

Also, in August, the IRS announced that some Americans who received smaller stimulus payments than they expected – or received none – should get funds soon. The tax agency said these “catch-up payments” will be sent to about 50,000 taxpayers who didn’t receive the full amount because it was used to pay their spouse’s past-due child support.

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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