IRS says it has sent about 130 million payments. Here’s why you may still be waiting for your money.
The federal stimulus payments aimed at helping Americans weather the economic hit from the coronavirus pandemic seem to have generated as much anxiety as relief. At the top of the list are how and when the checks are being distributed, with the IRS noting on Friday that it has issued 130 million payments worth a total of $200 billion.
That still leaves about 20 million Americans awaiting their money. Although the payments can vary in amount depending on income, family size and other factors, single taxpayers who earn less than $75,000 a year can generally expect a payment of $1,200. Married taxpayers earning less than $150,000 receive $2,400, while children under the age of 17 are eligible to get $500 each.
That can add up to $3,400 for a family of four. But it’s not always clear to consumers when the money will land in their mailboxes or bank accounts. The answer depends on a number of things, including when you filed your most recent returns and whether the IRS has your bank account information on file.
The IRS rolled out a tool called „Get My Payment“ last month to help taxpayers figure out when they’ll receive their payment and update their bank information. Yet many consumers reported that the site gave them an ambiguous message — „Payment status not available“ — that only fueled frustration.
Residents in some states have had more luck getting their payments than others, according to a CBS MoneyWatch analysis of IRS data and the number of taxpayers in each state. West Virginia has the highest share of taxpayers who have received their payments, with almost all taxpayers having received their payments. The lowest share is New Jersey, where about 7 in 10 people have their stimulus checks in hand.
