PITTSBURGH — Many people have already received their second stimulus check, but some are still waiting as an important deadline looms.
The Internal Revenue Service and U.S. Department of the Treasury are almost finished sending out the $600 payments.
Roughly 80% of the total relief money has been sent via direct deposit or paper checks and debit cards, according to CNET.
There is a Jan. 15 deadline to get the money out, per the text of the stimulus bill.
People who do not get the money by the deadline might have to claim a “recovery rebate credit.”
People can claim their second stimulus check money or a catch up payment from the first check in the form of that “recovery rebate credit” from the IRS when filing 2020 tax returns.
Filing a “recovery rebate credit” will either increase your tax refund amount or lower the amount of tax you need to pay the government, based off what they still owe you.
If the payment is received after Jan. 15, the check won’t be forfeited.
You can check on the status of your return by using the IRS’s “Where’s My Payment?” tool.
Cox Media Group