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Individual Tax

Economic impact payment FAQs updated to address post-issuance problems

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

IRS has added to FAQs regarding the “Get My Payment” website, which provides information about economic impact payments (EIPs) made under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The added FAQs address problems that might arise after the IRS has issued an EIP.

Background. As part of the CARES Act (PL 116-136, 3/27/2020), IRS is making EIPs to certain taxpayers.

Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds.

Eligible taxpayers who filed tax returns for either 2019 or 2018 automatically receive an EIP of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child under the age of 17 as of the end of 2020.

IRS has set up the Get My Payment website/tool that: (a) shows taxpayers either their EIP amount and the scheduled delivery date of the EIP by direct deposit or paper check, or that a payment has not been scheduled; and (b) allows taxpayers who did not use direct deposit on their last filed tax return to provide their direct deposit information which will speed their receipt of their EIP. (Get My Payment tool)

The IRS previously updated its FAQs about the Get My Payment website on May 20. See IRS adds FAQs about “Get My Payment” economic impact payment status (05/22/2020).

Added FAQs. Since the previous update, the IRS has added the following FAQs to the Get My Payment website:

Q. My payment was mailed weeks ago, but the Post Office was unable to deliver it. What should I do?

A. If you have not received your payment within 14 days of the payment date, check the Get My Payment tool periodically. If the IRS receives your payment back because the Post Office was unable to deliver it, the IRS will update your payment status on the Get My Payment tool to “Need More Information,” at which point you will be able to enter your bank account information.

If you don’t provide your bank account information, then the IRS will hold your EIP until it receives your updated address. To update your address, go to the IRS’s webpage “Address changes.”

Q. My address has changed or is incorrect. What can I do to change or correct it to receive my EIP?

A. The Get My Payment tool will not allow you to change your address. If you need to change your address, go to the IRS’s webpage “Address changes.”

If the IRS receives your payment back because the Post Office was unable to deliver it, the IRS will update your payment status to “Need More Information,” at which point you will be able to enter your bank account information.

If you don’t provide your bank account information, the IRS will hold your EIP until it receives your updated address.

Q. Get My Payment shows that my EIP was issued but I never received it. How do I get a new one?

A. If Get My Payment shows your EIP was issued but you have not received it and it has been more than five days since the scheduled deposit date (or more than four weeks since it was mailed by check; six weeks if you have a forwarding address on file with the local post office; nine weeks if you have a foreign address), you should initiate a trace on your EIP by calling the IRS at 800-919-9835 or you may submit Form 3911 (Taxpayer Statement Regarding Refund). If you call, please be advised that you may experience long wait times or recorded assistance due to limited staffing. If you submit the form and you are Married Filing Joint, both spouses must sign the form.

You must have been issued Notice 1444, Your Economic Impact Payment, or received a payment date from Get My Payment to perform a trace.

The IRS notes that if the EIP payment was made via direct deposit, check with your bank before initiating a trace to verify they did not receive the deposit. Do not request an EIP trace if you are trying to determine eligibility for the EIP or the amount of EIP you should have received.

Your claim for a missing EIP made by check is processed one of two ways:

  1. If the check wasn’t cashed, you’ll receive a replacement check once the original check is canceled. (If you find the original check and receive a replacement, you must return the original as soon as possible.)
  2. If the refund check was cashed, the Bureau of the Fiscal Service (BFS) will provide you with a claim package that includes a copy of the cashed check. Follow the instructions for completing the claim package. BFS will review your claim and the signature on the canceled check before determining whether they can issue you a replacement check.

Q. I never received my EIP after it was issued or I received it and it was lost, stolen, or destroyed. Can I initiate a trace on my EIP using Get My Payment?

A. No. Get My Payment cannot be used to initiate a trace on your EIP.

 

To continue your research on EIPs, see FTC 2d/FIN ¶A-4465; United States Tax Reporter ¶64,284.01.

 

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