IRS Admits They Goofed.
Seemed like a long time ago that I received my stimulus check, back on April 15th. Millions of people received a $1,200 deposit designed to help with the economic crash from COVID-19. I woke up one day and sitting pretty in my checking account the money was there, then shortly after I received a semi-personal letter from President Trump - filling me in with all the details about the money. Some people though STILL are waiting for their bump - what happened? The big mystery is WHY they haven't received their dough, until now.
Our friends from the IRS have recently come out to admit that they made a mistake in processing the original stimulus payments. According to Forbes "The IRS will offset tax refunds for various reasons, including certain outstanding debts. For example, the IRS will reduce a taxpayer's refund if he or she has outstanding state income tax obligations. In the case of a stimulus check, the CARES Act provided that the IRS would not offset the payment by such obligations, with one notable exception—past due child support. In the rush to send out stimulus payments, however, the IRS improperly withheld payments from about 50,000 people". OOPS.
That explains why a friend of mine could never reach the IRS, hours of trying to call and get through was impossible. The light at the end of the tunnel so to speak is getting brighter, the IRS has said that it will issue the payments in early September. Bottom line, try and be as patient as you can be with the Internal Revenue Service - you don't EVER want to be on their bad side. More info on this story click here.
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