Investor Alert

Feb. 20, 2021, 9:12 a.m. EST

The IRS says it’s done sending stimulus checks for now — here’s how to get your money if you were eligible and missed out

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By Andrew Keshner

If you still haven’t received your second stimulus check by now, the Internal Revenue Service wants you to know the check just might be in the mail.

At this point, all authorized first- and second-round stimulus checks have been issued, the IRS said Tuesday.

Some second-round payments — giving $600 apiece for eligible adults and children — may still be in the mail, the IRS said. These payments may be coming as a paper check, or as a pre-loaded debit card, the tax collection agency has previously said.

Otherwise, if a potentially eligible person still hasn’t received any money or the full amount they believe they should get, the way to access stimulus money now is by claiming the Recovery Rebate Credit on their 2020 income taxes.

The IRS began accepting income tax returns on Friday, Feb. 12, and April 15 is the filing deadline. Anyone who makes less than $72,000 can file their taxes for free with the IRS’ free file program. The quickest way to receive the Recovery Rebate Credit, as well as cash from any refund, is by filing electronically and including direct deposit account information on the return, according to the IRS.

For the first and second batch of stimulus checks, an individual needs to make up to $75,000 for full payment before the payouts begin declining. For married couples filing jointly, it’s $150,000 and people filing as head of household, it’s $112,500.

Read: Counting on a tax refund or stimulus check? 5 things to know before filing your taxes

Overall, the IRS said it issued more than 160 million first-round economic impact payments totaling over $270 billion and more than 147 million second-round economic impact payments worth over $142 billion. That’s a combined 307 million direct payments for $412 billion.

Then-President Donald Trump signed the $2.2 trillion CARES act in late March, authorizing the first round of checks. Those paid $1,200 per qualifying adult and $500 for dependent children age 17 and under. Trump authorized the second round in the $900 billion relief package he enacted in late December.

President Joe Biden’s $1.9 trillion relief proposal is calling for a third round of checks, this time for $1,400. But a series of hurdles lay ahead before the proposal becomes law.

The IRS said it updated tracking information for first- and second-round checks on the ‘Get My Payment’ portal one last time on Jan. 29.

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