$1.77 Billion Unclaimed Stimulus Checks: There Might Be Payments Waiting For You

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Economic Stimulus Package Tax Rebate Checks Printed
PHILADELPHIA - MAY 8: Economic stimulus checks are prepared for printing at the Philadelphia Financial Center May 8, 2008 in Philadelphia, Pennsylvania. One hundred and thirty million households are eligible to receive a tax rebate check under the $168 billion economic stimulus plan.

Just from the first batch of stimulus checks, there are approximately $1.77 billion in unclaimed federal funds. According to IRS data, more than 1.3 million stimulus payments from the first round of coronavirus relief have been refused, paid back, or not cashed.

The states with the most number of people reported a significant number of unclaimed stimulus funds. With 130,243 unclaimed checks, California led the way, followed by Texas with 96,918, Florida had 96,342, New York with 78,256, and Pennsylvania with 76,523. These five states have jointly rejected almost $650 million in stimulus payments.

Unclaimed stimulus checks from various states

KDVR, a Fox-affiliated television station based in Colorado, was the first to report the findings. Naturally, the states with the smallest populations had the fewest unclaimed stimulus checks. Wyoming was second with 2,668 unused payments, followed by Washington, DC, Alaska, Vermont, and North Dakota.

However, unclaimed stimulus checks to populations differed across the country. Although both California and Texas had low refusal rates, Pennsylvania had the highest. The rate of uncashed stimulus payments in Pennsylvania was nearly double that of other states, at 1.07 percent.

The federal government received all unclaimed or returned direct payments. President Donald Trump's $1,200 stimulus payments were the first in a series of direct federal government measures aimed at providing further financial assistance to families affected by the pandemic.

In December, Trump approved $600 in stimulus payments, backed by $1,400 stimulus checks signed by President Joe Biden. Meanwhile, a slew of Democratic lawmakers in Congress has increased pressure on the White House to enact a fourth-round or recurring stimulus package.

The legislators claim that the three rounds of direct payments were insufficient to assist American families, and that extra payment would prevent twelve million Americans from falling into poverty this year. In a letter to Biden, a group of twenty-one Senate Democrats urged him to incorporate recurring direct payments and automatic unemployment insurance extensions related to economic situations in his Build Back Better long-term economic strategy.

Biden, on the other hand, has not indicated that he will support the bill; and it is not included in the new bipartisan infrastructure plan.

Covid-19 relief checks totaled $4.2 billion as of last month, the most current third-round distribution. Yahoo! News verified that more than 1.2 million direct payments and around 1.1 million paper checks of Economic Impact Payments (EIP) were received by mail.

The IRS Get My Payment system helps qualified individuals and families in receiving daily information on the status of their stimulus checks. If an issue with overpayment occurs, the site gives notifications and details to assist users in resolving the problem.

You may still get a $1,400 stimulus check

The IRS urges taxpayers to create an account, which will allow them to go through essential data from past and current tax returns to determine the status of the stimulus check. The IRS mostly uses tax returns to establish eligibility.

So if you've gotten behind on your taxes, relocated, or had a major life change, the agency created a tax software program to help you catch up and potentially make it easier to send a check. If you get a paper check or an EIP debit card in the mail, the US Postal Service has a helpful feature called Informed Delivery.

The Bureau of Labor Statistics talked about how couples with greater earnings and eligible dependent children may have qualified for checks in a report on the first stimulus checks. This was, however, an exception to the rule. However, it also illustrates how wealthier Americans may have benefited from the circumstance, as per BGR via MSN.

Meanwhile, payments from the third stimulus check are still being distributed by the IRS. In a recent news release, the IRS stated, "The IRS continues to distribute Economic Impact Payments and the related 2020 Recovery Rebate Credit weekly."

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