Missing Your Economic Stimulus Payment? Check Name on Social Security Card

If you are still waiting for your Economic Stimulus Payment, the delay may be the result of changing your last name. Thousands of married couples were denied their Economic Stimulus Payment because a spouse's name on their Social Security Number did not match the name on their tax return.

Many people don't realize that when they get married and change their last name they need to contact the Social Security Administration. Otherwise their Social Security number does not match their married name which can cause all types of problems down the line.

Approximately 53,000 married taxpayers were denied their payments because of problems with their last names. Originally the IRS estimated they had denied 260,000 Economic Stimulus Payments because of mismatched Social Security Numbers. But after more review the IRS realized the figure was much lower.

With the processing of 2007 tax returns, the IRS was able to determine that the person on the tax return was in fact the person associated with the Social Security Number. These people will finally receive their Economic Stimulus Payments.

The IRS realized their mistake and made the following apology, "The IRS regrets the inconvenience for these affected taxpayers and will continue to work hard to deliver stimulus payments to qualifying taxpayers."

Letters are being sent out to those people whose last names did not match Social Security records. The letters will include the amount of their payment.

Taxpayers should be receiving their payments by Direct Deposit as early as October 24, 2008, or paper checks by early November. By mid-October Taxpayers can use the "Where's My Stimulus Payment" on the IRS website to track their payments.

Most taxpayers qualify for the maximum basic payment of $600 for singles or $1,200 for married couples. Parents are also receiving an additional $300 for each qualifying child, born after Dec. 31, 1990.

According to the IRS website, your payment may be less than the maximum for one or more of the following reasons:

You are single and your net income tax liability is less than $600. If you file Form 1040, your net income tax liability is the amount shown on Line 57, plus the amount on Line 52.

You are married and your net income tax liability is less than $1,200.

You are single and your adjusted gross income (AGI) is more than $75,000. On Form 1040, AGI is the amount on Line 37.

You are married filing a joint return and your AGI is more than $150,000.

You are married but filing separately and will receive your payment as if you were single.

You owe back taxes.

You have non-tax federal debts such as unpaid student loans or child-support obligations.

To change (or correct) your name on your Social Security card you need to complete an Application For A Social Security Card (Form SS-5).

Sources:

www.irs.gov "Economic Stimulus Payments Q & A", October 22, 2008