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The people who most need the aid “have to jump the most hurdles to get it,” says Chabeli Carrazana, economy reporter at the 19th.
Trying to opt out is a pain, some parents say.
Taxes got extra complicated in 2020, and the IRS has a backlog of 30 million returns that need a manual review.
People have until May 17 to file their 2017 taxes and request their refunds.
The IRS says the process of recalculating taxpayer returns will stretch into the summer.
Many pass their income through partnerships and corporations. Others park money offshore.
The delay provides more time for both taxpayers and the IRS, given the pressure of the pandemic.
Individuals will probably get their American Rescue Plan payments within weeks. State and local governments will wait months.
The IRS shut down its offices due to COVID, creating a buildup of millions of pieces of unopened mail and unprocessed returns.
If the IRS has out-of-date information for your bank account, you may have to claim the stimulus as a credit on your 2020 taxes.