JONESBORO, Ark- As the first round of stimulus checks have been deposited into accounts, for those that owe money to the government, you might not receive one.
Finance professor Dr. Philip Tew explains who this applies to and who it doesn't.
“Child support is the only one that will keep the money from going to the individuals,” says Tew. “Now if your money is going to your directly to your break account and you’ve done direct deposit and you’re behind with your bank, your bank can actually zap your funds.”
Child support is the only exception for the government taking your check.
The coronavirus aid, relief and economic support (or care) act which was signed into law on March 27 allows the government to take the amount of money owed in child support out of your $1,200 stimulus check.
Tew says the remanding amount of money will arrive in your account after the amount owed is taken out.
Now if you owe back taxes your full stimulus check will still arrive in your account.
“Part of the thing that government did is they exempted that part,” says Tew. “Kinda similar with what they do to social security where they won’t take certain federal benefits, and this is one of them. Same if you owe past student loans, so the money will go to you to spend on your needs and necessities.”
Now if you haven’t received your stimulus check yet and you did provide the IRS with your direct deposit information, you should expect it in your account within the next few weeks.