Stimulus Check Payment 2020 Eligibility, Status, and More on Second Round

stimulus check payments

Stimulus check payments distribution is on-going throughout the country, but are you wondering where your payments are, or if you qualify for the payments, or about possibilities of round two?

Several weeks ago, the government, in an effort to counter the adverse economic effects of the coronavirus pandemic, approved a relief package to the tune of two trillion US dollars. Eligible taxpayers have already started to receive stimulus check payments from the IRS.

stimulus check payments

However, not all those are eligible have received the check. Also, some of those who have received the check are still wondering what it’s for.

You may have heard the words “recovery rebate” in place of a stimulus check. The term is used because technically it is a tax credit that will appear on your 2020-2021 tax return.

As a general rule, tax returns are granted subsequent to the filing of taxes. But in this case, the government has advanced the credit in order to cushion the economic blow on American businesses and incomes. The checks are aimed at helping those who have lost employment or are having financial troubles resulting from the lockdowns.

Rumors about a second round of stimulus checks have surfaced. Here’s what we know about the stimulus check payments and questions you might have about them.

Have You Received Your Payment?

If you are a taxpayer, the IRS has your bank account information and the funds may have been deposited in your account on April 13. However, this doesn’t signify that all eligible persons should have received their funds since the government is still processing tax returns.

Why Am I Seeing ‘Payment status not available’?

It is possible that a message reading ‘payment status not available’ pops up when you check for your stimulus check payment. There are various reasons that would lead to this message, the simplest one being that you make a lot of money and hence are not qualified.

Is A Second Round On The Cards?

Is there going to be a second round of stimulus check payments? For people who have lost their jobs, a meagre $1,200 might not do much. Congress is following up on the bill for first relief. The follow up is expected to conclude by May 4 following which the house will have enough information to take decisions on a second round of stimulus check payments.

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