On Wednesday, more than 80 million Americans received an emergency relief payment from the federal government due to the coronavirus pandemic. For millions more, the "stimulus check" is coming — just more slowly. Thankfully, there are ways to verify that your money is on its way rather than just waiting and hoping.
The IRS is issuing a stimulus check to millions of adults in the U.S. by the same method that they received their last tax return. For those that filed for direct deposit, the payments came instantaneously in one big batch this week, dropped right into their bank accounts. Those that got their tax returns by a check in the mail are slated to get their stimulus check the same way, though understandably many people are anxious to know that for sure. Some may also want to give the IRS their electronic funds transfer credentials now, in the hopes of getting their stimulus check faster.
Either way, the process is relatively simple. The IRS has set up a webpage called "Get My Payment," which will continue getting new features for the rest of the week. The website allows Americans to verify that their stimulus check is coming, or find out why it is not. They can also add their banking information to the site now, hopefully ensuring that their money is wired over within a few days.
According to a report by CNET, the IRS expects everyone who already had direct deposit information on file to get their stimulus check by the end of the day on Wednesday, April 15. After that, those who added their information through Get My Payment may take a few days to see the money in their accounts. The app is being run on a first-come, first-served basis.
Those waiting for the good old fashioned paper checks may not see them until mid-May or early June. The IRS says the physical checks will begin going out on April 24. The agency is prioritizing Americans with the lowest incomes first, assuming that they need the checks most of all.
The stimulus check is worth up to $1,200, depending on your annual gross income. If you made $75,000 or less in total on your last tax return, you can expect the full amount. For every $100 over that threshold, the stimulus check will drop by $5, so, someone who made $75,100 would get $1,195, and so on. An individual who made $99,000 or more would get nothing.
The thresholds are a little different for people who filed taxes jointly with a partner, or are listed as a "head of household." Additionally, those who claim a dependent under the age of 16 will get $500 extra to care for them. Those who are claimed as dependents — even adults — will not get a check of their own.