Daily Press (Sunday)

Why the delay in stimulus payments?

- By Rocky Mengle Rocky Mengle is tax editor at Kiplinger. com.

Q: I’ve yet to receive my third stimulus check from the government. I’m on Social Security and could really use the money. What’s the holdup?

A: Nearly 30 million people who receive Social Security or Supplement­al Security Income (SSI) benefits have been waiting to get a third stimulus check because the Social Security Administra­tion failed to send critical informatio­n to the IRS. Fortunatel­y, that wait should come to an end, now that the SSA has finally forwarded the necessary data to the tax agency.

It took a letter from four congressme­n to get the SSA to send the requested informatio­n, which they did the day after the letter was sent. However, according to the congressme­n, the necessary payment files arrived a month after the IRS requested them. That delay held up payments to millions of Americans.

The IRS has already sent approximat­ely 127 million third-round stimulus payments worth about $325 billion over the past two weeks. More payments will be sent on a weekly basis going forward. So hopefully, payments to the Social Security and SSI recipients who have been waiting can be sent in one of the next few batches.

Every eligible American will receive a $1,400 third stimulus check “base amount.” The base amount jumps to $2,800 for married couples filing a joint tax return.

You also get an extra $1,400 for each dependent in your family, regardless of the dependent’s age.

Not everyone will receive the full amount, though. As with the first two stimulus payments, third-round stimulus checks will be reduced — potentiall­y to zero — for people reporting an adjusted gross income (AGI) above a certain amount on their latest tax return.

If you filed your most recent tax return as a single filer, your third stimulus check will start being phased out if your AGI is $75,000 or more. That threshold jumps to $112,500 for head-of-household filers, and to $150,000 for married couples filing a joint return. Third-round stimulus checks will be completely phased out for single filers with an AGI above $80,000, head-of-household filers with an AGI over $120,000, and joint filers with an AGI exceeding $160,000.

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