What to do when the stimulus check does not arrive
Deadline to receive payment is January 15th.
MADISON, Wis. (WMTV) - Many have yet to receive a stimulus payment, and the Friday deadline is fast approaching for qualified recipients.
For those who have yet to receive the $600 payment (more if you filed with dependents under the age of 17 on your 2019 tax return), there is a way to collect the payment after the deadline. Lynne Mason, a partner at Exact Accounting and Finacial Services in Madison, says that payment can be collected on the 2020 tax return.
“If you do not get your payment on January 15th, we will take care of it on your tax return,” said Mason. “There is a recovery rebate credit, and we will apply for that on your 2020 tax return.”
Mason also noted that because of the shorter timeline for the U.S Treasury to issue the payments (just 17 days), most payments would be sent out via direct deposit. This is to avoid the re-issuing problems faced during the first round of stimulus payments, which went out on paper checks or cards.
While many Americans qualify for payments, not every adult will receive a stimulus. Vox Media reports that roughly 13.5 million adults will not qualify because they are listed as dependents. The majority of that number are college students over the age of 18, forced to move back in with their parents after graduation, and unable to get a job due to the pandemic.
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