Where is My IRS Stimulus Payment?

The IRS Stimulus payments are going out. Most single people are getting $600, married couples are getting $1,200 and there is an extra $300 per child under the age of 17. So a married couple with 2 children can expect a stimulus payment of $1,800. If you were expecting your stimulus payment by direct deposit you should have it by now. Paper check payments are being mailed weekly according to the last two digits of the primary filers social security number. You can look at this schedule of stimulus payments to see when you should expect your check. But not everyone is getting what they expected, and some people are surprised to find that they are getting nothing! Here are some of the reasons why your tax stimulus payment may be delayed or missing.

You may not have gotten the full amount of your payment because:

Your Net Tax Liability Was Too Low

If you are single, and your net tax liability is under $600, or you are married and your net tax liability is under $1200, you will not get the full amount. As long as your income is over $3000 you will get the greater of your net tax liability or $300. On Form 1040 your net tax liability is line 57 plus line52.

Your Income is Too High

If you are single and have an adjusted gross income(AGI) of over $75,000 or married and have an adjusted gross income of over $150,000 your stimulus payment will be reduced. You stimulus payment is reduced by 5% of the amount of AGI that exceeds $75,000 ($150,000 if married) You will receive no payment if your AGI is over $87,000 for single people and $174,000 for married couples.

You Owe Back Tax Debts

If you owe any uncollected back tax debts your stimulus payment will first be used to reduce your tax debt. If you tax debt is less than your stimulus payment you will get the balance.

You Have Unpaid Student Loans or Child Support Payments

Your stimulus payment will first go to pay these obligations, and any balance left over will be paid to you.

Your Payment May Be Delayed Because:

You Received a Refund Anticipation Loan From Your Tax Preparer

Your tax refund was direct deposited to your loan provider, and not to you. You will receive your stimulus payment as a paper check on the paper check schedule.

You Had Your Tax Preparation Fees Withheld From Your Refund Check

Same as if you had a refund anticipation loan. You will be mailed a paper check.

You Have Moved

Make sure to file a change of address with the post office, and send the IRS form 8822 to notify them of your change of address.

You Had Your Refund Deposited to a Debit Card, and the Account Has Been Closed.

If you used a professional tax preparer, and had your refund deposited to a debit card, or a stored value card, your stimulus payment will be direct deposited to the same card. However, if the account has been closed you payment will be further delayed. The IRS must wait for notification that the account has been closed, and then they will mail you a paper check. This could cause a delay of several weeks.

You Have Not Filed Your 2007 Tax Return

Your payment is based on information from your 2007 tax return. You will not receive your payment until you have filed.

For more information you can view the IRS Stimulus Payment FAQ.

Have you received your stimulus payment? Was it what you expected? What are you going to do with your payment?

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