The IRS is now claiming that the next round of Economic Impact Payments — or "stimulus checks" — will go out on Friday. Many Twitter users have shared the latest update from the U.S. government on their $1,200 coronavirus relief payment if they did not get it in the first wave this week. Judging by the testimonials on social media, the first wave of paper checks sent out in the mail is coming up this week.
The IRS is sending a $1,200 stimulus check to millions of Americans to help them deal with the economic fallout of the coronavirus pandemic. The payments are a part of the CARES Act, which was rolled out as quickly as possible to meet the needs of the nation during this crisis. Lawmakers determined that the fastest way to get the money out was through the existing distribution methods that the IRS uses to send out tax returns, including direct deposit and checks in the mail. So far, there has been some confusion and a few snags along the way.
For those that need to update, correct or change their banking information on file, the IRS set up a new web portal called Get My Payment. The site allows users to change their mailing address or add new direct deposit information to get their stimulus check. On Saturday, many Twitter users noted that their latest update on the site showed that a paper check was coming their way on Friday.
In some cases, this was good news. Many people wanted to wait on a paper check rather than sharing their banking information with the Treasury Department. Others were confused, as this was not their chosen method of delivery.
The IRS has not commented specifically on this update so far. The website notes that its payment status updates are changed no more than once per day, so people may have to wait until tomorrow to see the latest information. The full FAQ section of the website gives users lots of specific advice for getting their money depending on what they want and what information is on file.
In general, the Economic Impact Payments are expected to take much longer by mail than by direct deposit. On Wednesday, The Washington Post reported that President Donald Trump had ordered his name printed in the memo section of each check. Insiders at the Treasury Department said that this might delay the checks' issuance by several days, or even a week.
@stevenmnuchin1 I used the #getmypayment tool on Wed morning (as soon as it was released) to add my banking info to the #irs, and it appeared to be there for a few days. But as of this morning I'm now told that I will be getting a paper check mailed on the 24th? What's the deal?— Gary Guagliardo Jr (@guag) April 18, 2020
By contrast, millions of direct deposit payments went on on Wednesday for those with up-to-date banking information in their 2018 or 2019 tax returns. However, some Americans have claimed that they attempted to use the Get My Payment portal to switch to direct deposit, but it did not work.