ilmscore | How to Get Your Stimulus Check as Quickly as Possible

How to Get Your Stimulus Check as Quickly as Possible

Published: 2020-03-27
Status: Available | Analyzed

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
Individuals with their 2019 tax return data on file with the IRS will be prioritized for stimulus check processing.
"if you want your stimulus check as fast as possible you'll need to have your 2019 tax return data on file with the IRS the Trop Administration has said you will be processed first in line you will be their priority"
Stimulus Check Processing
Pending
Excluding banking information for direct deposit on the 2019 tax return will result in stimulus checks being sent via snail mail, which will take significantly longer.
"if you don't forget to include your banking information for direct deposits on your 2019 tax return if you don't then they're gonna process your check by your stimulus check by snail mail and that's gonna now that's gonna take such a long time"
Stimulus Check Delivery
Pending
Individuals disqualified based on 2018 tax data, but who would have qualified based on 2019 data, will receive the stimulus benefit on their 2020 tax return filed in early 2021.
"if you identify you 2018 tax return and they're going off you're 2018 tax return and they see that you are disqualified from receiving the stimulus check based off your 2018 data when in reality you should have qualified from your 2019 data but you just did a file so they can't see it that's problem that's a problem they're gonna disqualify you for 2018 when you really should have received a refund if that's the case you will not lose that stimulus money what's gonna happen is that you'll receive the benefit of the stimulus check money on your 2020 tax return that you're gonna file in early 2021"
Stimulus Check for Disqualified Individuals
Pending
Stimulus check amounts begin to reduce for single filers at $75,000, head of household at $112,500, and married filing jointly at $150,000.
"if you're single and you make seventy five thousand then they start reducing the stimulus check amounts one hundred twelve thousand five hundred for head of household and a hundred fifty thousand dollars for married filing jointly those are the phase-out ranges"
Stimulus Check Phase-Outs
Pending
A different address on file than the 2019 tax return will not be an issue for direct deposit stimulus checks, but will cause problems for physical checks unless mail forwarding is set up.
"if the address is different from your 2019 tax return well if you have the direct deposit hooked up then that's not gonna be a problem if you're getting a stimulus check a physical check yes that will be a problem so hopefully you have mail forwarding"
Stimulus Check Delivery with Changed Address
Pending
Individuals who owe back taxes to the IRS will still receive their stimulus check and can cash it normally, rather than it being applied to their outstanding balance.
"if you owe money to the IRS for prior years and you haven't paid it or you have back taxes what's very interesting is that you're still gonna get the stimulus check and you're free to cash it normally it would just apply to your balance"
Stimulus Check for Owed Back Taxes
Pending
The $500 per child tax credit for children born in 2020 will not be issued immediately but will be applied as a benefit on the 2020 tax return.
"Children born in 2020 will not get the $500 now but it will appear as a tax credit on the 2020 tax return if this doesn't make sense to people again this is because this whole thing the stimulus check money they're 2020 tax credits they're for you know five hundred dollars per child and they're born in 2020 you're not gonna get the five hundred dollars added to you right now it's gonna get added to you as a benefit on your 2020 tax return"
Child Tax Credit for 2020 Births
Pending