Depending on your state‚ you might have received a check from the U.S. Treasury in the past few years. It is important to understand how these checks are being issued and what you need to do to claim them. Here are a few tips to help you.
State governments are cutting checks to help cover household costs
Despite record tax revenues‚ state governments are cutting checks in droves to help residents cope with rising household costs. In particular‚ state leaders are approving $200 checkbooks for retirees.
Some states are making the claim that the money spent on tax rebates will not impact inflation. In the grand scheme of things‚ however‚ the cost of such a move would be prohibitive. In a bid to keep their citizens happy and sane‚ some governors are touting the tax rebate as a harbinger of good times to come. This isn’t necessarily a good thing. A recent report from the Consumer Price Index shows that the cost of living has actually increased since the recession‚ a development that will likely ratchet up the pressure on states’ budgets.
The state of California has set its sights on a $12 billion relief plan‚ which will help some 23 million taxpayers squeak by in the foreseeable future. The state also has a few other nifty bits of legislation on the books.
Unclaimed stimulus funds
Throughout the past year‚ the government has been issuing stimulus checks. These checks are aimed at people who are low-income and have dependents. But not all eligible people have received the full amount of these checks. Several families are leaving money unclaimed.
The IRS has launched a tool called “Get My Payment” to help you track your stimulus funds. It’s available in English and Spanish and shows whether or not you have an outstanding check. The IRS has also announced that it is sending reminder letters to individuals who haven’t received a stimulus check yet. The letters are printed in English‚ so you can be sure that you’ll receive the correct information.
If you missed a stimulus check‚ you can still claim the money from the government. However‚ you will need to file a federal tax return in 2021. This will allow the IRS to assess other benefits you may be eligible for.
You can receive a stimulus check if you have a SSN and qualify as a dependent. You can also claim an additional $1‚400 if your child or another dependent qualifies for the Recovery Rebate Credit.
Microprinting on U.S. Treasury checks
Throughout the United States‚ microprinting on checks is used to help prevent check fraud. The microprinting is tiny words or lines that are engraved on the check and cannot be copied with a standard copier. A magnifying glass or a macro lens on a camera can help you read the text on the check.
The microprinting on a check is often seen near the signature line or in an area five eighths of an inch deep along the bottom of the check. The words “USA” or “FIVE DOLLARS” will usually appear inside the bill border.
The Treasury provides agencies with check image service‚ which allows them to view images on CD Rom or an Internet browser. The images provide a higher quality image than microfilm copies. This service is offered for 90 business days after a check has been redeemed.
A new ultraviolet pattern appears on checks. The pattern says “FISCALSERVICE.” The ultraviolet pattern also contains the FMS seal.
