The IRS will begin rectifying economic impact payment amounts for individuals who may not have received all that they were eligible for – and households can expect to receive the extra cash within the coming weeks.
In guidance issued this week, the agency said it would begin issuing direct deposits for some people missing the $500 per qualifying child on Wednesday and sending paper checks and debit cards on Friday.
The follow-up payment will be sent in the same manner that a person received his or her initial payment.
“The IRS will automatically issue the additional $500 EIP per qualifying child to affected individuals in early August for those who used the Non-Filers tool before May 17, 2020,” the agency wrote in updated guidance. “You can use Get My Payment to check the status of the $500 EIP per qualifying child, and you will receive another notice in the mail letting you know the $500 EIP per qualifying child was issued.”
Parents were able to receive an extra $500 per qualifying child under the age of 17, but the agency needed additional information about dependents from some people who were therefore sent incorrect check amounts.
These users were asked to use the IRS’ non-filers tool to provide updated information, and those who did by May 17 will begin to have their checks sent out this week.
As previously reported by 360aproko Business, the Taxpayer Advocate Service will work with the IRS as a means to resolve a number of economic impact payment issues, for individuals who received checks for incorrect amounts or did not receive money at all. Eligible individuals can submit a claim to the agency beginning next week, more details on how to resolve issues are expected to be issued shortly.
Meanwhile, lawmakers are currently debating the terms of another stimulus package, which could include an additional direct payment. Both Republicans and Democrats have broadly proposed giving households another round of $1,200 checks.
