Never Got a Stimulus Check? You Have Extra Time to Claim One

The IRS this week extended the deadline to register for an "economic impact payment" to Nov. 21 — five weeks later than the previous end date of Oct. 15.

The extension gives people who don’t typically file a tax return the chance to get one of the $1,200 COVID-19 aid payments most of the country has already received.

Americans with low incomes that fall below IRS thresholds are not required to submit a tax return. But to receive relief money, they'll need to get themselves on the tax agency's radar — by supplying their contact information on the IRS website.

"Time is running out for those who don't normally file a tax return to get their payments," says IRS Commission Chuck Rettig in a news release. He adds that "registration is quick and easy."

It's free money — and you probably need it urgently.

Good uses for your stimulus check

With unemployment high and the economy still struggling to recover from the coronavirus crisis, you might need the cash to help put food on the table or pay routine bills.

Or, you could save the windfall. Most financial experts recommend setting aside enough money in an emergency fund to cover six months' worth of your regular expenses — and your relief payment is a great excuse to get the ball rolling.

Just make sure to park your emergency fund in a high-yield savings account so it will earn more than the usual interest and grow over time.

You also might also want to use a portion of your stimulus check to clear out some of your debt, especially if you’ve been leaning on your credit cards for support during the pandemic.

Or you could put some of your check toward buying affordable life insurance, to protect your family if something unexpected were to happen to you. Depending on your age and your desired coverage amount, you might be able to get a policy for less than $1 a day.

No matter how you plan to use your stimulus check, it’s vital that you take a few minutes to register online before it’s too late.

Negotiations have stalled over a second stimulus package, and it could be a long wait before the next relief payments goes out — if there even is a second round.

What to do if you need another $1,200 ASAP

If you’ve already collected your initial stimulus check and are having trouble making ends meet, there are several things you can do to add some extra money to your bank account fast.