Yahoo Finance The IRS ‘Get My Payment’ Tool for Stimulus Payments — What It Is and How to Use It
More than 169 million payments worth about $400 billion have been sent out by the IRS since Congress passed the American Rescue Plan stimulus relief bill in March.
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To assist with the rollout of payments, the IRS has set up a “Get My Payment” tool that allows you to find out when your new (third) economic impact payment is scheduled to be sent — or when and how it was sent. The system is updated once a day, usually overnight.
The Get My Payment tool operates like an application for your stimulus payment. You can access the tool on the IRS website. You will need to input your Social Security number, date of birth and address.
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If the payment has been scheduled, the screen will show the day the payment is scheduled to be deposited and the last four numbers of the bank account number that will receive the deposit. If you use the tool after a payment has already been deposited, you’ll see a transaction receipt of sorts showing the day it was deposited and the last four digits of the account number.
Taxpayers have encountered some problems with the Get My Payment tool. For example, if you have recently filed your taxes, it’s likely that your information will not yet show up in the Get My Payment application. This is because the IRS needs time to process your return and then add your information to the economic relief payment system. According to the IRS website, the delays are due to unprecedented backlogs resulting from the ongoing pandemic. The agency has advised taxpayers to not call the IRS, as the representatives do not have information beyond what the website offers.
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Some important things to note: If your account has been locked, it is because you have input information that does not match the IRS records. For security reasons, the IRS limits each user to three failed attempts per 24-hour period. You’ll also get locked out if you have already accessed the system the maximum number of times within 23 hours. To manage system capacity, the IRS limits each user to five logins per day.
If you receive a “Payment Status Not Available” message but are sure you’re eligible and have submitted all the information the IRS needs, it’s likely that the IRS simply hasn’t yet processed your payment yet. Once it does, the tool should indicate when your payment will arrive.
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This article originally appeared on GOBankingRates.com: The IRS ‘Get My Payment’ Tool for Stimulus Payments — What It Is and How to Use It
