When are stimulus checks being sent out? How to keep tabs on yours
Andrew Keshner 18 hrs ago
When are stimulus checks being sent out? How to keep tabs on yours
Checks for millions of Americans, a key part of the $2.2 trillion stimulus bill, will start rolling out as early as next week.
That money can’t come soon enough for the more than 16 million people who are suddenly out of a job, and everyone else who’s worried about how to pay their bills, rent and withstand the coronavirus’ economic onslaught.
The Internal Revenue Service will send $1,200 payments to individuals with adjusted gross income below $75,000 and $2,400 to married couples filing taxes jointly who earn under $150,000. The government will also pay $500 per qualifying child.
The payouts — formally dubbed “economic impact payments” — decline above the $75,000/$150,000 threshold and end at $99,000 for indviduals and $198,000 for married couples.
The money will appear automatically in your bank account if the IRS has your account information on file from previous years’ tax returns. If the IRS doesn’t already have your account information, or if you didn’t file taxes in 2018 or 2019, you can submit your information on this website.
“Economic Impact Payments will be distributed automatically to most people starting next week,” the IRS said Friday. The agency said it would launch a tracking tool called “Get My Payment” by April 17. The tool will give people an idea on when they can expect a deposit or a check in the mail, the IRS said.
The IRS announcement Friday didn’t get into specifics on its timeline to cut checks, but here’s an estimated timetable, according to federal lawmakers, as of last week.