As part of their efforts to shore up the economy during the ongoing Covid-19 outbreak, the US Federal Government has began a plan to send $1,200 checks (or digital deposits) to most Americans. As the payments start to show up, many people are wondering how to check the status of their stimulus check.
Fortunately, the IRS has built a new online status checker for the 2020 stimulus check:
Using this new online tool, you can check your eligibility for the stimulus check, and also verify it’s status. You can see whether the payment has been issued, it’s still being processed, or if there is an issue.
read later: H&R Block Emerald Prepaid Mastercard
Due to extremely high call volume, the IRS is encouraging people to use the IRS.gov/coronavirus online tool, instead of calling in.
How Can I Check on My Stimulus Check?
You can check the status of your payment by going to https://www.irs.gov/coronavirus/
This online tool allows you to check your eligibility, check the status of your payment, update your payment information on file with the IRS, and more. It’s also where non tax-filers should go to manually apply for the stimulus payment.
Due to high call volume, the IRS is asking Americans to use the online tool instead of calling in.
When Will I Get My Stimulus Check?
The IRS started sending out payments this week, around April 15th. According to a report from the Washington Post, approximately 80 million payments have been sent as of this article’s publication date. The IRS expects to send out approximately 150 million payments, meaning roughly half of all stimulus payments have already been sent. Keep in mind that some banks may hold the funds for a few days, so if you haven’t got yours yet
The IRS will continue issuing digital payments, until they have reached all eligible Americans. If you haven’t got your check yet, the IRS is encouraging you to use the IRS.gov/coronavirus online tool.
For Americans who do not have direct-deposit bank account information on file with the IRS, payments could be delayed. Taxpayers can manually submit their bank account info here, or wait for a physical check to be mailed. Reports indicate that physical checks may take weeks or months to arrive.
How Will I Get My Stimulus Check?
If you are a taxpayer who already has direct deposit information on file with the IRS, you will receive the stimulus payment as a digital direct deposit. The IRS has already started sending out these digital payments, so yours should arrive soon.
If you do not have direct deposit information on file, you’ll need to manually submit it online – or, wait for a physical check to be mailed.
The IRS will use the information on file from your last tax return. This includes your reported income, your address and your bank account information. If anything has changed (if you moved, for example), you should update your information as soon as possible.
Who is Eligible for the Stimulus Check?
Most Americans are automatically eligible for the $1,200 stimulus check. The main eligibility requirement is income.
Individuals making up to $75,000 per year, or couples making $150,000 per year, will receive the full payout of $1,200 per adult (with an extra $500 per child).
Individuals making between $75,000 and $99,000, and married couples making between $150,000 and $198,000, will receive a reduced payment.
Anyone making more than these income limits will not receive a check.
Keep in mind that the income is based on your last filed tax return. If you’ve already filed 2019 taxes, the income from 2019 will be used. If you have not yet filed, your 2020 tax return information will be used instead.
If you do not file taxes, you must manually apply for the IRS Stimulus Check. Learn more here.
You can check full eligibility details here.