Skip to Search Skip to Live Player Skip to Content Skip to Footer

WiLD Bunch Mornings

Weekdays 6am-10am

What ‘Payment Status Not Available’ means for your stimulus check

Beasley Media Group Digital March 16th, 2021

Did you get a ‘Payment Status Not Available’ message when tracking your stimulus check through the IRS?

According to the IRS website, you may have received the “Payment Status Not Available” for these reasons:

  • Your payment hasn’t been processed yet.
  • The IRS doesn’t have enough information to issue you a payment.
  • You aren’t eligible for a payment

The IRS are going based off your latest tax return, either the 2019 return or the 2020 return.

Those who qualify for the full $1,400 include individuals earning up to $75,000 and married couples with incomes up to $150,000.

The bill includes also includes the following:

  • $400 per week jobless benefit supplement and an extension of programs making millions more Americans eligible for unemployment insurance.
  • $20 billion towards COVID-19 vaccinations
  • $50 billion into testing
  • $350 billion into state, local and tribal government relief

On the other hand, Wells Fargo and JPMorgan Chase banks have told customers they may not receive the third round of stimulus checks until at least Wednesday (3/17) and Americans have to taken to Twitter to vent about it, and speculate as to why the deposits might be delayed.

According to Fox Business, millions of Americans are poised to receive direct cash payments of up to $1,400 after President Biden signed the American Rescue Plan into law last week, injecting another $1.9 trillion into the nation’s pandemic-battered economy.

Although the Internal Revenue Service has said the official payment date for the money is March 17, it has already started distributing the money.

Wells Fargo said it would provide all of the direct deposits “according to the effective date provided by the U.S. Treasury,” and said it’s not holding on to the money.

Some people suspect that the banks are holding onto the money in order to earn interest off of it. However, Well Fargo said in a statement, “We know the importance of the stimulus funds to our customers, and we are providing the payments to our customers as soon as possible on the date the funds are available, based on IRS direction. Wells Fargo is not holding the funds.”

JPMorgan, meanwhile, encouraged account holders to set up alerts so they know when the money arrives.

Customers unloaded on Twitter. Here are some of the no so friendly tweets.

If you want to know if you are eligible for a stimulus check this time around, check CNBC’s stimulus calculator.

Tags
,