Some Americans will have to jump through extra hoops to collect their second stimulus checks.
The Internal Revenue Service says it moved so quickly to distribute the $600 payments that some of them bounced back. That’s because the money was sent to a bank account that may be closed or inactive, according to the IRS.
The tax agency says it cannot re-issue the payments and mail paper checks to those unlucky individuals, so they’ll have to claim the so-called Economic Impact Payment as a credit when they file their 2020 tax return later this year.
“The IRS advises people that if they don’t receive their Economic Impact Payment, they should file their 2020 tax return electronically and claim the Recovery Rebate Credit on their tax return to get their payment and any refund as quickly as possible,” the IRS said in a statement
Taxpayers can use the IRS’ “Get My Payment” tool to learn whether they’re in this category. If they are, the tool will display a message that says “Payment Status #2 – Not Available,” which means the stimulus check won’t be delivered upfront.
The IRS hasn’t said how many taxpayers are affected by the issue. But some people who filed their taxes through TurboTax and H&R Block said they saw the “not available” message as they tried to sort through confusion about when they would receive their money.
Despite the frustrating glitch, the Treasury Department has reportedly doled out more than $112 billion of the estimated $164 billion in stimulus check funds since the payments started going out last week.