IRS To Make Up For Shorted Stimulus Payments To Some Consumers
Some Americans who got smaller stimulus payments than they expected or even none at all in the spring should receive funds soon, CNBC reported Thursday (Aug. 27).
The IRS said in a press release that these “catch-up payments” will be made to about 50,000 who didn’t receive the full amount because it was used to pay their spouse’s past-due child support. The payments will be issued in early- to mid-September.
“These spouses do not need to take any action to get their money,” the IRS said in the release.
Families who were expecting more money for dependent children might also be able to get it, CNBC reported.
Potential recipients of payments can check their status using its “Get My Payment” tool, according to the IRS.
The payments are part of the CARES Act approved by Congress in March. With certain restrictions, the payments should have been $1,200 for individuals and $2,400 for married couples, plus additional funds based on the number of dependents.
The potential payments are unrelated to new payments that may result from an Aug. 8 executive order issued by President Donald Trump. Those payments, if made, are likely be smaller than the payments approved by Congress and Trump in the spring.
Trump, however, has raised the possibility of increasing the payments if negotiations with Democratic leaders in Congress can’t be resuscitated.
Republicans and Democrats have been talking about another government stimulus package for months, with the two parties at a standstill over several sticking points. Democrats have pushed for a $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act (or “HEROES Act”). Republicans, meanwhile, have pushed a $1 trillion Health, Economic Assistance, Liability Protection and Schools Act (or “HEALS Act”).
Federal pandemic aid also included $600 in additional weekly payments to many unemployed individuals under a program that ultimately cost $250 billion.