Ask Bob: Do I Qualify for a Stimulus Check?

Robert Powell, CFP®

Question:

My adjusted gross income or AGI on my 2018 tax return was over the limit to receive an initial stimulus payment due to an extraordinary event that year. My 2019 AGI would have allowed for a reduced payment. I mailed in a paper return on March 24 to the Kansas City Service Center claiming a small refund. 

To date, the IRS has not processed the return. I have been checking the "where's my refund" website and getting a response of "you may have entered your information incorrectly.” 

Now it appears that a second stimulus is going to come and, at least according to the Secretary of Treasury, it will be based on the same income levels.

In that it is over four months since mailing my return, I am getting concerned that it was lost in the proverbial mail. Should I be concerned about that or has the pandemic backed up processing that much? Is there any information source I can turn to that will inform me what time period they are processing at the present time, I figure my return should have been delivered around April 1? Is there any appeal channel that I could use to get them to use my 2019 AGI in computing the new stimulus payment in case my return is not processed by that time?"

Answer:

Bill Verhagen, a senior partner with Innovative Financial Solutions, references the IRS information that covers all the details for the Economic Impact payments. Specifically, he notes Question #22 which provides the answer to the reader’s question:

Qualifying for a stimulus check

Retirement Daily also checked with other tax experts regarding the delay in the processing of the tax return. Unfortunately, they don’t have definitive advice. The IRS is backed up and doing their best to catch up. (Note: Our reader let us know that their 2019 tax return was finally processed in early August.)

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Email your questions about retirement and money to Robert.Powell@Maven.io.

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