El Paso, TEXAS (KTSM) — Many Americans are wondering when they will be receiving their second round of stimulus funds. The IRS Commissioner John Koskinen has stated that “this has all hit when critical testing of the operations of the tax filing system are going on, and without delaying some checks, they can’t get it all done. But it’s not helpful to people waiting for money.”
The reality is that many American citizens will not see their stimulus money until they file their taxes for the 2020 tax year. The IRS is advising that individuals seeking their payments should utilize the “Get My Payment” feature on their website, so they can view the status of their payment. For any reason that the tool reads, “Payment Status #2 – Not Available,” then it won’t be likely that the funds will not be sent through direct deposit.
The IRS further stated, “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.”
As many Americans are in dire need of financial help during the onslaught of the pandemic, there is a growing urgency to receive these critical funds.