These tips can help you speed up the delivery of your third stimulus check and They could help you avoid a long wait for the money that corresponds to you and that you need.
Congress is working to pass a new $ 1.9 trillion stimulus bill and a third stimulus check of up to $ 1,400 per person that would be accompanied in legislation that could be passed in mid-March.
That means you still have time to make sure you are on your way to receiving your money. This week the stimulus bill will be discussed in the Senate for modification and a vote and then go to President Joe Biden to sign the law.
What should you do to prepare?
1. File your taxes
If you are missing stimulus money from the first two payments, you will need to apply for a Recovery Refund Credit when you file your 2020 taxes. To ensure that the delivery of your money is faster you must establish the direct payment deposit as an option before the Internal Revenue Service (IRS). Also, do not forget to file your taxes electronically since it is the best way for your stimulus check to be deposited faster once it becomes law.
Remember that a third check could give you more money than the previous ones and not just the $ 1,400 that it contemplates.
2. Set up direct deposit when filing your taxes
You must establish a direct deposit account that is directly linked to your bank account when you file your 2020 tax return as it can benefit you in two ways:
You will be able to get your Recovery Refund Credit for your stimulus money that has not been delivered any faster. The IRS has insisted that the best and fastest way to get your refund is to electronically deposit it into your bank account.
Remember that you can establish your direct deposit in up to three bank accounts if you want to divide your tax refund between them.
By filing your return electronically through the IRS software that is available for free and as a payment system, you can get your refund faster that if you print your statement and mail it.
The IRS has reported that this season expect 9 out of 10 taxpayers to receive their refund within 21 days of electronic filing with direct deposit, in case there are no problems with your tax return.
Including information from your direct deposit on your tax return has another benefit: the moment the Third Stimulus Check is approved, if you are in the group of people with direct deposit established through the IRS, you will be among the first taxpayers who will receive your money unlike those who receive the paper check in the mail or through an EIP card.
Related: Who can get unemployment benefits now that the Department of Labor has expanded benefits?
3. Make sure the IRS and USPS have your correct address
In case you moved after filing your 2021 tax return or during the coronavirus pandemic, you will have to do two things to make sure your stimulus check and other information about your payment can reach you.
You will need to inform the IRS and the United States Postal Service (USPS) if your new location is temporary. You will have to make sure that your current address so that you can receive the letter and notice from the IRS verifying when the agency sent your payment. If the letter reaches your IRS-registered address but your funds don’t, then you won’t know that you have to claim your stimulus check by tracking your payment.
In case you lose your notice and your letter, here we tell you what you must do to get it back. If you need to change your address with the USPS and the IRS we also prepare a note so you know how to do it.
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Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.