Author: Brittanie Pyper

Within a few weeks most Americans will be receiving their third stimulus check in the amount of $1,400.

However, for some, that won’t be a reality. In fact, some Americans are not getting the stimulus check at all. Here’s why.

As you all may know, uncle sam always wants a piece of the pie.

In this case, The IRS wants their money aka the taxes you owe.

Just like with many other things, such as buying a house, your taxes have to be paid first. That’s what is happening here.

If you happen to owe back taxes to the IRS, you won’t be seeing your stimulus check.

The major issue is that the IRS hasn’t had the correct information to send stimulus checks to these people (could be because they haven’t filed tax returns at all for years or something else).

But if the person is eligible for a check and doesn’t receive it, they can claim it on their taxes. But if they owe back taxes, the IRS is taking that credit of stimulus check (which would come into a refund) and applying it towards taxes owed.

According to CNN, It’s been more than a month since the Taxpayer Advocate Service, an independent organization within the IRS, called attention to the issue.

It argued that the agency could find a way to make sure people received the money as intended.

The issue “is a problem the law and the IRS have created,” wrote Erin M. Collins, the National Taxpayer Advocate, adding that “the rug is being pulled out from under eligible individuals with outstanding debts.”

So, as of right now, there is no fix. If you owe taxes, you won’t see a stimulus check unless something in congress is changed allowing those that owe, to receive one.

If you have children, listen up!

Parents May Receive Up To $3,600 Per Child With The Next Stimulus Bill. Here’s What we know.

A few weeks back we had told you about the proposal that would give parents up to $3,000 per child amid the pandemic.

Now, that has changed for what I believe, is the better.

The Senate passed the new stimulus bill yesterday and now it goes to the house to once again be passed due to changes in the bill.

Part of the changes includes direct payments to parents which will offer up to $3,600 per child, over the course of a year.

The payments would be made monthly starting in July for those with incomes that qualify.

Under the new bill, here is what that would look like for parents:

The plan is improving the Child Tax Credit (CTC), making it refundable and worth up to $3,000 per child — or $3,600 for a child under 6 — for 2021.

The provision also allows American families to receive periodic payments for the credit for one year beginning in July.

So, let’s say you have 2 children under 6 and 1 over 6. If you qualify, that is $10,200 over the course of a year.

That means beginning in July, you’d receive $300 x 2 = $600 (for the kids under 6) and $250 for the kid over 6 each month for 12 months. So, $850 total a month.

The idea is to help families afford expenses with their children including child care costs, food, shelter, etc.

As of right now, this is how the amounts stand in the new bill which we hope to have passed and on President Biden’s desk to sign into legislation this week.

In case you haven’t heard yet, The Senate passed President Joe Biden’s $1.9 trillion stimulus package on Saturday which includes the $1,400 stimulus checks.

Now, it’s important to know that while the bill was passed, the Senate is sending the amended bill back for a vote in the House.

So, when can you expect your $1,400 stimulus check?

Well, once the house passes it, it will be sent to the president to sign it into the legislation.

While we don’t have an exact date, President Biden said on Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Yes, that means that within the next few weeks we can begin seeing payments sent.

As with previous stimulus checks, many will receive direct payments to their bank accounts while others may receive checks via mail or via a pre-paid debit card.

So, how much can you expect?

As part of the legislation, individuals who make less than $75,000 or heads of households who make up to $112,500 will qualify for the $1,400 payments. Couples who make less than $150,000 will get $2,800.

• Individuals who make between $75,000 and $80,000 and couples who earn between $150,000 and $160,000 will receive a reduced payment.
• Parents who qualify will get an additional $1,400 for every child claimed on their most recent tax returns.

How to avoid a delay in payment:

• Make sure your 2019 or 2020 taxes are filed (which ever year you made less, is the year you want filed for the max stimulus check)
• Do not change bank accounts in the middle of this because the payment will default to the same account your tax refund is sent to