7 Reasons You Didn't Receive Your Stimulus Check

The recently signed $1.9 trillion American Rescue Plan included a round of $1,400 stimulus checks -- money many people will no doubt use to cover expenses, pad their savings, sock funds away for retirement, or invest. But if you haven't gotten your money, you may be puzzled, annoyed, and downright worried. Here are a few reasons why your stimulus hasn't shown up.

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The IRS can issue only a limited number of physical checks at a time. If you're not eligible to have your stimulus deposited directly into your bank account, then you'll need to wait for a check to arrive in the mail, and yours may not get there until the end of the month.

ALSO READ: Investing Your Stimulus Check? 3 Dangerous Mistakes to Avoid

Some stimulus payments are being issued as debit cards. If you received an envelope with a debit card, you may have mistook it for junk mail and tossed it out. The same mistake could've also happened with a physical check.

The last bank account you listed on a tax return is the one the IRS will use to send your stimulus payment electronically. If you've since closed that account and didn't register a new one with the IRS, you can expect a delay -- namely because the IRS will have to wait for its initial deposit to get rejected and then send you your stimulus by mail.

For the first two rounds of stimulus checks, consumers were protected from having their money garnished by creditors. For this third round, that's not the case. If a judgment is entered against you in court, a creditor can garnish your stimulus payment to satisfy a delinquent debt.

ALSO READ: Will You Regret Paying off Debt With Your Stimulus Money?

Many people have moved in the course of the pandemic. If your address has changed but you never updated the IRS, your stimulus check may have gone to the wrong place.

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Many seniors on Social Security don't file a tax return, and it was only recently that the Social Security Administration provided details on beneficiaries to the IRS to facilitate stimulus payments. Therefore, checks for Social Security recipients have been delayed, though the IRS is working to get them out as quickly as possible.

This third stimulus round had a lower income cutoff than previous rounds. Individuals with incomes above $80,000, heads of household with incomes above $120,000, and married couples filing jointly with incomes above $160,000 are automatically barred from receiving any amount of stimulus money, so a lot of people who got a first- or second-round stimulus may not be eligible this time around.

ALSO READ: Stimulus Check Update: Will a Fourth Stimulus Check Come From the Build Back Better Plan?

If you're anxious to get your hands on your stimulus, there is a way to check on its status. Just visit the IRS' Get My Payment tool for more information on your missing check. Knowing when to expect your money will help you better manage your finances -- and it may give you peace of mind, too.

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