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Q&A: Still no coronavirus stimulus check? You’re not alone

July 6, 2020 By Liz Weston

Dear Liz: Both my wife and I are on Social Security retirement benefits. We were told we had to do nothing to get our stimulus payment even though we don’t file tax returns. We’ve made two calls to the IRS and gotten no suggestions from them.

Answer: If your Social Security payments are direct deposited, your relief payments should have been sent to that bank account. If you don’t have direct deposit, your payments should have been mailed. You (or a computer-savvy friend) can check to see the status of your payment at the “Get My Payment” section of the IRS.gov website.

If your payment isn’t on the way or there’s another problem, you should reach out to the IRS. It’s not clear from your statement — “no suggestions from them” — if in your previous attempts you actually reached a human being or just a recording. Please make sure you’re calling the right number because the stimulus payment number — (800) 919-9835 — is different from the general taxpayer hotline. You may have to be patient because hold times can be long.

Filed Under: Coronavirus, Follow Up, Q&A Tagged With: coronavirus stimulus check, IRS, q&a

Thursday’s need-to-know money news

July 2, 2020 By Liz Weston

Today’s top story: Some taxpayers face a desperate wait for refunds. Also in the news: Are variable rate student loans worth the risk, 6 ways your investments can fund racial justice, and why your federal student loan servicer may be changing.

Some taxpayers face a desperate wait for refunds
IRS delays are hurting struggling families.

Even Near 1%, Are Variable Rate Student Loans Worth the Risk?
Your rate could change dramatically in the future.

6 Ways Your Investments Can Fund Racial Justice
Money makes change sustainable.

Your Federal Student Loan Servicer May Be Changing
Say goodbye to NelNet.

Filed Under: Liz's Blog Tagged With: cariable interest student loans, Investments, IRS, NelNet, racial justice, student loan servicers, tax refunds

Wednesday’s need-to-know money news

July 1, 2020 By Liz Weston

Today’s top story: It’s now cheaper than ever to borrow money for college. Also in the news: What you need to know about Disney’s reopening, bankrolling your adult kid in a crisis, and 8 ways to save for your child’s college education.

It’s Now Cheaper Than Ever to Borrow Money for College
Feds have dropped interest rates to historic lows.

Disney Is Reopening: What You Need to Know
Safely returning to the happiest place on earth.

Are you bankrolling your adult kids in a crisis?
You are not an emergency plan.

8 Ways to Save for Your Child’s College Education
Start as soon as possible.

Filed Under: Liz's Blog Tagged With: adult kids and money, college, College Savings, Disney, interest rates

Some taxpayers face a desperate wait for refunds

July 1, 2020 By Liz Weston

As a 58-year-old woman on disability, Robin Short of Wallingford, Connecticut, relies on her tax refund to catch up on bills. She filed her return electronically in February, opting for direct deposit so she could get her $773 refund quickly.

She’s still waiting, as are millions of others. In my latest for the Associated Press, how the IRS is slowly resuming operations after pandemic-related lockdowns, but delayed refunds are devastating some people’s finances.

Filed Under: Liz's Blog Tagged With: coronavirus relief paym, IRS, tax refunds

Tuesday’s need-to-know money news

June 30, 2020 By Liz Weston

Today’s top story: Five credit card benefits you probably have but don’t know about. Also in the news: A bargain hunter’s guide to used car shopping, Millennials share their top financial regrets, and where to find free tax filing options.

Five credit card benefits you probably have but don’t know about
Don’t leave money on the table.

A Bargain Hunter’s Guide to Used Car Shopping
Avoiding the lemons.

‘I wasted so much money …’ Millennials share their top financial regrets to help Gen Z get started
Avocado toast isn’t one of them.

Get All Your Free Tax Filing Options Right Here
The delayed filing deadline is fast approaching.

Filed Under: Liz's Blog Tagged With: credit card benefits, financial regrets, free tax filing, Gen-Z, millennials, Taxes, used car shopping

Monday’s need-to-know money news

June 29, 2020 By Liz Weston

Today’s top story: How new grads can handle 3 essential post-college questions. Also in the news: A new episode of the SmartMoney podcast on money goals and bank bonuses, the possibility of another stimulus check, and everything that goes away when coronavirus benefits end in July.

How New Grads Can Handle 3 Essential Post-College Questions
The real world is a bit different these days.

SmartMoney Podcast: Setting Money Goals at Milestone Birthdays, and Bagging Big Bucks with Bank Bonuses
Use your big birthday to set a new goal.

Is Another Stimulus Check Coming?
Maybe.

Here is everything that goes away when coronavirus benefits end in July
Start planning ahead for changes.

Filed Under: Liz's Blog Tagged With: banking bonuses, CARES Act, college graduates, Coronavirus, money goals, SmartMoney podcast, stimulus check

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