HARD HIT Americans hoping to bounce back from the Covid-19 epidemic may be missing out on their third round of stimulus checks worth as much as $1,400. 

As the third round of the financial relief sees checks cut by Uncle Sam as part of the $1.9 trillion American Rescue Plan secured by President Joe Biden, many eligible Americans can still get what they are owed.  

Read our stimulus checks live blog for the latest updates on Covid-19 relief…

This week, the Internal Revenue Service (IRS) confirmed the aid to boost Americans who suffered in the pocketbook since the pandemic – reached a milestone of 163million payments worth about $390billion.

But many are still either waiting for their payment to arrive or don’t realize they may be entitled to collect. 

IRS Issuing Payments On ‘Weekly Basis’

After delaying the tax filing date again this year from April 15 to May 15, the IRS also divvied out its stimulus payments "on a weekly basis" to cut down on errors and avoid an overwhelming backlog, the IRS stated in March.

In the most recent sendout, Covid-19 relief checks totaling $4.2billion were paid out through June 9. 

There were more than 1.2million direct deposits and about 1.1million paper checks of Economic Impact Payments (EIP) that arrived through snail mail, Yahoo! News confirmed. 

The agency confirmed more financial support would be distributed this week.

Paper Or Plastic?

It’s most likely the financial help will come through direct deposit. 

But there are paper checks and also debit cards that are also being issued.

To keep an eye on the third round of dough – substantially more than the first check worth $1,200 or the second that dropped to $600 – the IRS created ways to get real-time intelligence on your potential payout. 

The IRS Get My Payment tool helps individuals and families gather daily updates on their payment statuses.

Whenever an issue arises over payment, the site issues alerts and details to help people resolve.

The IRS also allows people to create an IRS account, which helps them work with a substantial amount of details regarding past and present filings and stimulus statuses as well.

Meanwhile, if payment is expected in the form of a paper check or EIP debit card through the post, then there’s a nifty tool that the US Postal Office tool called Informed Delivery.

Radical Life Change

You may have moved or taken a very long vacation somewhere far from home. 

Or you changed banks and didn’t inform the IRS.

If so, it’s key to notify the IRS that you are either away or no longer at the former address or the old financial institution. 

The check will likely be heading to whatever address that was entered on your 2019 or 2020 tax returns, according to Yahoo!. 

If the check was cut and already sent to the old address, another check can be issued, but the lag time may be extensive. 

Debt Collector Took Your Dough

While the first two rounds of the stimulus were essentially the third rail for debt collectors, the third one is proving less so. 

According to Yahoo!, the hastily passed stimulus to give Americans relief included a legislative loophole allowing creditors to garnish the money you might be hoping to receive. 

Apparently, collectors can cut in front and grab the cash, but tax debt and back child support payments remain off-limits.

Tax Tardiness

It’s possible that you missed the May 15 deadline to file tax returns and secure a potential refund. 

For those who earn less than $12,400 a year and aren’t making more self-employment income or single and under age 65 – a 2020 tax return wasn’t required, Yahoo! reported.

The IRS is relying heavily on tax returns to execute the latest rollout of payments. 

So to re-establish yourself on their books, they have created a tax software program to update your information and possibly get them to send out a check. 

BANK IS STALLING YOUR STIMULUS

There’s a strong likelihood that your banking institution could be waiting until a “future dated” check from the IRS elapses. 

This apparently held up cash for many JPMorgan Chase and Wells Fargo banking customers of, had to wait for their cash to clear their accounts until the “effective date” listed by the IRS was actually distributed, Yahoo! reported. 

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Qualifying For Third Round Stimulus Is Harder

For round three, Congress slightly moved the goalposts for those who qualify and those who don’t.  

Previously, checks could be collected by those single taxpayers earning $100,000 and $200,000 for couples who file jointly, according to Yahoo!.

But the third stimulus the gross income threshold dropped to those earning $80,000.

If you made over $160,000, you didn’t qualify.

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