When is My Stimulus Check Coming?April 16, 2020
Wondering when your stimulus check is coming? If you’ve already filed, likely this week! We share the details here.
The Internal Revenue Service has started sending out stimulus payments this week, as part of Congress’ economic relief plan in response to the coronavirus global pandemic. When will the money arrive? Payments will start arriving in bank accounts this week (April 13). If you’ve already filed your 2019 taxes with direct-deposit information, you will most likely get your check sooner than those who still need paper checks. We share the details here.
Why are people receiving stimulus checks?
As our blog covers, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law about two weeks ago and includes economic impact payments for certain taxpayers impacted negatively by the current climate.
So, who’s eligible to receive a stimulus check?
- Single U.S. residents with adjusted gross income less than $99,000
- Heads of household earning under $146,500
- Joint filers without children earning less than $198,000
Does everyone receive the same amount?
Single taxpayers with a social security number and an AGI under $75,000 will receive the full $1,200. This decreases as your AGI goes up. If you file as head of household and earn less than $112,500 you qualify for the $1,200 amount, decreasing gradually as your AGI reaches $146,500. Those filing jointly without children will get a payment of $2,400, decreasing as your AGI reaches $198,000. Parents will get an additional payment of $500 for each child 16 years or younger.
How do you check the status of your stimulus check?
You should get your stimulus money this week if you filed your taxes already and set up direct deposit with the IRS, while those who have yet to file may have to wait a few weeks to get a check in the mail.
Here’s how to track the status of your payment:
The application will give you information about your payment status, your payment type and whether they need more information from you, such as bank account information.
Are you required to file taxes before getting the check?
No additional action is needed by taxpayers who:
- have already filed their tax returns for 2019. As mentioned, the IRS will use this information to calculate the payment amount.
- haven’t yet filed for 2019 but filed for 2018. For these taxpayers, the IRS will use their information in 2018 tax filings to make the Economic Impact Payment calculations.
Those who are not typically required to file a tax return (social security, social security disability, and railroad retirement recipients) do not need to take action as the IRS will take information from form SSA-1099 and form RRB-1099 to generate checks.
In addition, low-income workers and certain veterans and individuals with disabilities who aren’t required to file a tax return are still eligible for the Economic Impact Payments. Taxpayers can check the IRS.gov tool - Do I Need to File a Tax Return? - to see if they have a filing requirement.
If you don’t have to file, use the "Non-Filers: Enter Payment Info Here" application to provide simple information so you can get your payment.