Stimulus Checks: What to Do If You Missed Deadline for Direct Deposit

The IRS stopped accepting new direct deposit information through the "Get My Payment" website for coronavirus stimulus checks on Wednesday. If you missed that deadline and still qualify for a payment, the only thing left to do is wait until a physical Economic Impact Payment arrives in the mail as a printed-out check. On May 8, the IRS released updated data on stimulus check distribution, noting that about 20 million payments have still not been sent out.

American taxpayers had until Wednesday at noon Eastern time to add direct deposit information on the Get My Payment portal. Most Americans did not need to use this feature if they hoped to get their payment deposited directly to their bank accounts, as the IRS used the most recent banking information they had on file. For example, if you filed your 2019 federal taxes already and had your refund direct deposited, the IRS used that information to send you the payment. Even if you do not get your check via direct deposit, it is still possible to use the Get My Payment site to track a payment, notes CNet.

There were several glitches in the system that resulted in payments being sent to the wrong bank account, and it was possible to change the information the IRS had until the payment was sent. If the IRS' information was not up to date, the payment would be rejected by the bank, leaving the IRS to physically send the check, creating a delay. The physical checks are not being mailed out until late May into June. About 5 million checks will be sent out per week, according to the House Ways and Means Committee.

The Economic Impact Payments are part of the $2.2 trillion CARES Act signed into law in late March, and Americans began to see them showing up in bank accounts in mid-April. When the program is over, about 150 million payments will be distributed across the country. The checks include $1,200 per individual American taxpayer with an adjusted gross income of $75,000 or less and has filed 2018 or 2019 taxes. Anyone with an adjusted gross income of more than $75,000 and up to $99,000 will receive reduced payments. Couples who file jointly will receive one check with double the amount. Families will also see $500 per dependent under 17.


There is still no law providing Americans with a second payment, although the economic crisis caused by the coronavirus pandemic is continuing. On Thursday, the Depatment of Labor reported another 2.98 million people filed for unemployment claims last week. Economists told CNBC they do see some encouraging signs, as some people have gone back to work while states start reopening their economies. However, more than 36.5 million Americans have filed for unemployment insurance since the beginning of the coronavirus crisis.