The IRS is tasked with getting Economic Impact Payments to taxpayers as soon as possible. It hasn’t gone altogether smoothly, but millions have already received checks. Taxpayers who have filed for years 2018 or 2019 and most seniors and retirees should be fine without taking any action. The money received does not have to be paid-contrary to some internet reports. It will also not be taxable income in 2020.

U.S. citizens and U.S. resident aliens qualify that cannot be claimed as a dependent on someone else’s return and have a valid social security number with adjusted gross income below an amount based on filing status and the number of qualifying children. Taxpayers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive full payment. For taxpayers who make income above these amounts, the stimulus payment amounts is reduced by $5 for each $100 above the $75,000/$150,000 thresholds.

While millions have received their checks, millions haven’t. There is an IRS website that allows you to check on the status of your check — https://www.irs.gov/coronavirus/get-my-payment Many people are clicking through the Get My Payment site to find this response “Payment Status Not Available.” Why are taxpayers receiving this response, there appears to be several reasons:

• Individuals who have not filed 2019 but filed a 2018 return with taxes due (although paid). This is inexplicable and shouldn’t hold up checks, but it could be a glitch in the IRS software.

• Individuals who filed a 2019 return and received a refund. This doesn’t make sense either.

• Individuals who recently filed a 2019—IRS is processing your return.

• Individuals who filed their tax returns with TurboTax or H&R Block.

• Individuals who have made too much income or otherwise are not eligible for a refund.

• Individuals who are required to, but have not filed tax returns in 2018 or 2019.

• Individuals who are social security recipients or retirees with benefits.

Taxpayer who use H&R Block, TurboTax or Jackson Hewitt may have problems receiving their checks because their refunds may have been received by the companies directly then distributed to taxpayers. As a result, the IRS may not have your direct deposit information.

What to do? Check back with the IRS tomorrow at the Get My Payment website-they promise to provide more information daily. Beware though that there is a limit on the number of time that you can check your status, if you exceed it, the site will lock you out for 24 hours.

Bowman Law Firm, Gene M. Bowman, Attorney at Law

Huntsville, Alabama