Stimulus Check Updates - 'Payment Status Not Available' Error, EIDl, & PPP

Stimulus Check Payment Status Not Available Error
When will I receive my EIDL grant?
When will I receive my stimulus check?

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Hello and welcome to this quick stimulus program update. A lot of big things are happening today. I am going to address some news with the EIDL grant program, the stimulus checks and the payment status not available error, and the PPP.

Also, I wanted to thank you guys for 20,000 subscribers. I appreciate each and every one of you. You have a ton of choices when it comes to business content on YouTube and I feel extremely grateful you choose to watch here.

In EIDL news as of today April 15th 3.5% of businesses who have applied for the EIDL grant have received funding. This is up from 1.5% of businesses just yesterday.

I have now received notification from two different people who have received the full $10,000 grant who have verified with screenshots of the deposits. Both of these companies have verified that they have over 10 employees.

I personally still have not received anything from the EIDL grant program and will keep you updated.

I also have not received any indication that anyone has received the actual payment for the EIDL loan program however there have been many people who have reached out to me stating that they have been accepted for an EIDL loan and the application is pending. Including an approved loan for over $350,000

The new IRS Stimulus Payment checker tool is now available

The great news is millions of people have received their stimulus checks today, I personally know 4 people who told me they had money in their accounts today.

The not so great news is many people are attempting to check the status of their stimulus check and are getting the message “Payment Status Not Available According to information that we have on file, we cannot determine your eligibility for a payment at this time.”

So why is that happening?

The best answer I can find is it’s a glitch in the system. According to user reports many people are receiving this message including people who are currently on taxes, those who owe taxes, and people of all income levels.
An IRS agent was asked to comment on this and didn’t state whether it’s a glitch in the system or not.

The good news here is there are more and more reports coming in from people who claim to have received that error message and still received their stimulus payment the same day.

The best advice here is to be patient, check your bank accounts, and check again on the payment tracker later today or tomorrow.

Some people are also receiving the message: “We are unable to provide you with the status of your payment or perform the action requested because:
The tax return information you entered does not match our records; or
You have already accessed the system the maximum number of times today.

Those are pretty self explanatory issues. Something was entered incorrectly several times and the system booted you.

In PPP news 5% of businesses who have applied for the Paycheck Protection Program have been accepted and funded. This is up from 4% just yesterday.


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Disclaimer
This presentation does not constitute legal or tax advice. It is provided solely for informational and educational purposes and does not fully address the complexity of the issues or all the steps businesses must take under applicable laws. You should consult your professional advisers regarding your individual situation. Max Maher undertakes no obligation to update the information in this presentation, and no representations are made that the content is error-free.

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