Still no stimulus check? Do this
For those who have not received their second economic impact payment (aka stimulus payment), there's still hope — though it may come at a cost.
The two stimulus payments that have been approved were an advance payment of a credit that flows through your 2020 tax return; eligibility for these payments was based on your 2019 tax return.
I have heard from several readers that they received their first payment last spring but have yet to receive the second. Whether you received only one or didn’t receive either, your best bet to collect is to file your 2020 tax return and indicate there how much you did receive.
If your income was below the income threshold and you did not receive either or both payments, there will be a credit on your tax return for the stimulus payments not received. The credit is a refundable credit which means if you had no income tax liability then you would receive the credit amount as a refund.
The bad news here is if you file a tax return to collect the stimulus payments, you should pay a preparer to file your tax return electronically. The reason is that if you snail mail a paper copy you may not see your payment for a long time because the IRS is still very backed up processing forms and tax returns from 2019 that were sent via snail mail.
When filing electronically, provide the IRS your bank information so it can be sent electronically. If you can’t remember if you received your payments, log on to irs.gov and work through the website to determine the status of your payment. For those who don’t have a computer, the IRS provided this phone number: 800-919-9835.
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Is purchasing insurance on shipped packages worth it?
When shipping a package we have the option of buying insurance to cover damage that occurs in transit or for the loss of the item. Recently I've heard from readers who are having difficulty filing a claim and subsequently collecting on a damaged item.
Shipping companies appear reluctant to approve claims by asserting the item damaged was improperly packaged. Excuse me, but why do they offer insurance without inspecting the packaging first? Reminds me of a used car warranty where you buy the warranty and then your claim is denied because of prior owner abuse which wasn’t known to the purchaser.
Certain shippers appear to be harder to collect from but the bottom line is skip insuring packages, as the insurance is of little value, in my opinion. At a minimum, do some internet searches about the shipping company first to see what their track record is for approving claims. It's frustrating to pay for insurance only to be turned down when you need it.
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What temperature should the thermostat be set?
Most of us like to stay warm in our homes in the winter time but don’t like to spend more money than necessary. One question that gets asked is this: Is it better to set the thermostat at one temperature and leave it alone or is it better to turn it on, shut it off, raise and lower the temperature based on how cold it is or how warm we feel?
Recommendations from the Department of Energy state that 68 degrees is an ideal temperature to save money and be comfortable. However, they also state that setting the thermostat 7 to 10 degrees lower from the normal setting for eight hours every day can save up to 10% per year on energy bills.
But is that true?
I spoke with a local HVAC company that serviced my furnace and they recommend setting the thermostat at one temperature and leaving it alone. The rationale that many don’t think about is that it isn’t just the interior air that needs to be reheated after the thermostat is lowered, but the walls and furniture also lose heat when the temperature is lowered. And that means all that air including the walls and furnishings need to be reheated every day.
Also, the employee mentioned that when raising and lowering the temperature, the system needs to work harder to keep up with the increased heating demand when the temperature varies.
Another way to save money is to regularly change your filter to reduce the strain on your unit, which can get clogged with debris over time. I do set my thermostat at a constant temperature and believe this helps maintain a comfortable temperature during the winter. I haven’t noticed my bills being higher.
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Remember: I’m on your side.
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If you have encountered a consumer issue that you have questions about or think our readers should know about, please send me an email at terridickersonadvocate@gmail.com or call me at 208-274-4458. As The CDA Press Consumer Gal, I’m here to help. I’m a copywriter working with businesses on marketing strategy, a columnist, a veterans advocate and a consumer advocate living in Coeur d’Alene.