Many Americans have suffered significant financial set-backs due to COVID-19, and are eagerly awaiting Stimulus Payments, also called Economic Impact Payments, from the IRS. These payments should be automatic for most taxpayers, and are expected to begin hitting bank accounts today, April 15th. Read further to learn how to look at the status of your stimulus check, and how to expedite your payment if the IRS does not have your direct deposit information on file.
If you’ve filed your 2019 or 2018 tax return and have your direct deposit information already on file, you should be among the first to receive your check. The IRS has also gone live with an online portal so citizens are able to check the status of their payments. To get the status of your stimulus payment, click here: https://www.irs.gov/coronavirus/get-my-payment
If you receive your refund via a paper check in the mail, you have the option to give your bank information to the IRS (https://www.irs.gov/coronavirus/economic-impact-payments) so that you will receive your stimulus payment more quickly. Otherwise, you will receive a paper stimulus check, which might take additional time.
People who aren’t required to file tax returns, such as some on Social Security, can use this site for non-filers where they can send the IRS their direct deposit information: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
Adults with income below $75,000 are due to receive $1,200 each, while married couples earning less than $150,000 will receive $2,400. Single Americans who earn over $75,000 or married couples who earn above $150,000 will see their payments decline by $5 for every $100 over those amounts, until the payments phase out entirely at $99,000 and $198,000 for singles and couples, respectively. Families with children under 17 years old will receive $500 per child.
Any adults who can be claimed as dependents will not receive a stimulus check. Nonresident aliens, or those without a green card, are also excluded from the payments.
Leave A Comment