Is Your Stimulus Check From New York Going To Bounce?
Many residents of New York state have been waiting for their next stimulus check, and although the amount is much lower for this next round of stimulus checks, there are lower income individuals that are relying on this extra cash.
Governor Kathy Hochul and fellow legislative leaders made an announcement last month that those New York residents that meet income eligibility for another stimulus check should receive them at some point this month.
Who Is Eligible?
This additional stimulus check will be sent to any New York resident who received the Empire State Child Credit and/or the Earned Income Credit on their 2021 state tax return via check in the amount of $270 per qualified individual. However, there may be a problem with these deposits.
Can My Stimulus Check Bounce From New York?
The short answer is yes, and it all depends on how you filed your 2021 tax return. Since the qualification for this upcoming round of stimulus checks is entirely dependent on how you filed your 2021 state tax return, that also affects how you may receive this check.
If you linked a temporary or alternative bank account or an account that you have since closed, your direct deposited stimulus payment may bounce since these accounts may now be closed by these companies.
According to NBC News, the risk for a bounce is still there with Refund Transfer services used with tax prep software and reloadable pre-paid debit cards.
Last year, it was predicted that about 14 million people could be affected by this issue across the country.
How Do I Know If I’m Affected?
There’s a really easy way to double check if your stimulus could bounce or not. If you go to the IRS “Get My Payment” tracker to check on your relief aid. If you see a different bank account number listed than the one you own, and you have no stimulus money in your account, you may have filed your 2021 tax return to link to another account.
If the website indicates that there is a date the payment was mailed, you should watch your mail carefully for a check or a debit card and verify that it works.
Verify your bank account number on the IRS “Get My Payment” tracker to ensure that you will get your $270 stimulus.
Also, you may want to make sure that your address is correct, especially if you recently moved. You can update your address with the Department of Taxation and Finance when you click here.