Didn’t Get Your Coronavirus Stimulus Yet? This Might Be Why…

…where is the money?

By Admin on April 17, 2020

If you’re on social media, you have no doubt seen the posts going around of people excited that they received their Coronavirus stimulus money from the government. People with incomes under $75,000 received the $120 refund, others in higher income brackets received less. People that make over $99,000 a year won’t receive a benefit at all.

As I scroll Facebook over the last 48 hours I am also noticing a good number of people saying they haven’t received anything yet – and that led me to ask…where is the money?

Our media partners at KCRA have a great write-up on this, and as of right now, it says, it might be a timing issue, “The Internal Revenue Service started by sending money to the people it could reach the fastest. This was anyone who had direct deposit information already on file with the agency because they were due a refund on either their 2018 or 2019 federal tax returns.

Others, like Social Security and Supplemental Security Income recipients, should receive the payments automatically soon, the IRS said this week.

Then, the agency will begin sending paper checks — with President Donald Trump’s signature — to those who haven’t authorized a direct deposit in the past two years. On Wednesday, IRS officials said those checks should start going out next week, according to a Democratic congressional aide. But the agency can only process roughly 5 million checks a week, so it could take months before all of them are sent out.”

There are 5 other reasons why your check may not have arrived yet – KCRA has those outlined here.