With millions of Americans eagerly awaiting their federal stimulus checks to help them weather the the coronavirus recession, people are now able to find out when they can expect to get their money after the government on Wednesday launched a tracking tool called “Get My Payment.”
The first batch of stimulus checks — or “economic impact payments,” as they are officially known — started hitting consumers’ bank accounts on Saturday, the Internal Revenue Service has said. But millions of people remain unsure of when the payments will arrive because it depends on whether the IRS has your direct-deposit information and your income level. Consumers can also update their mailing addresses if they’ve moved since they last filed their tax returns.
The “Get My Payment” service went live on Wednesday at IRS.gov. It allows consumers to check their payment status, confirm whether they prefer direct deposit or a paper check and enter their bank account information for direct deposit if the IRS doesn’t have it yet.
“We expect over 80 million hard-working Americans will get the direct deposit by this Wednesday,” Mnuchin said.
Consumers will need either their 2019 or 2018 tax returns to complete the “Get My Payment” service, the IRS says. Taxpayers who haven’t yet filed for either year but are required to file a tax return will need to file their 2019 return to get their payment, the IRS said.
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.
How much you’ll get
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.
Roughly 9 in 10 American households will get a stimulus check, which is to help people stay afloat financially during the economic downturn caused by the pandemic. But certain factors could affect how much you get, as well as how fast you receive payment.