For some, coronavirus funds may never come. Here are six reasons that could happen to you.
If the IRS has an outdated bank account or address on file for you, it could end up sending your money to the wrong place.
If your old bank account is closed, the stimulus funds will be returned, and the IRS will send a paper check once it's notified. This will go to the address on file from your most recent return. If your old bank account is still open, you'll have to deal with the bank to try to access the money. Unfortunately, while the federal government isn't seizing stimulus payments due to unpaid debts, other creditors are. If the old account has been frozen by a collector or has a negative balance due to fees, you could lose some or all of your stimulus funds.
If your check goes to an old address, it's also on you to try to track it down, so be sure your mail is forwarding with the USPS if you've moved since you filed your most recent return. Unfortunately, while you can use the IRS online form to provide bank information if it doesn't have it on file, you cannot update either existing direct deposit information or your address due to the risk of fraud. If the IRS has outdated info, the only way to correct it and make sure you get your check is by filing a 2019 return before your payment is sent.There are lots of reasons you might not get a stimulus check that can still be corrected if you act quickly.
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