More than 80 million Americans had a payment from the federal government deposited into their checking accounts last week as part of the economic stimulus plan passed by Congress and signed into law by President Donald Trump last month.
Those payments were the first sent to Americans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and they went to those who filed a 2018 or 2019 tax return. Those 80 million-plus checks represent about 59% of Americans who are eligible for a one-time payment of up to $1,200 per person.
Those who receive Social Security benefits have also received a payment, delivered in the same way they receive their Social Security benefits.
If you have checked your account and did not find a deposit, you can go to the Internal Revenue Service website called “Get my payment” to see the status of your payment. Here’s a look at when you should be getting a payment if you are eligible and have not received one.
When will you get a payment?
Early May: Stimulus payments will go to those receiving Social Security retirement and disability benefits, Railroad Retirement benefits, Supplemental Security Income and VA benefits in early May. Those recipients do not have to have filed a recent tax return to get the payment. The money will come to them via the way they receive their regular monthly check. The payments will be for the maximum amount of $1,200.
April 24: Paper checks started going out this week. People who have not provided direct-deposit information to the IRS – for instance, if you did not have to file an income tax form – should look for a paper check in the mail. The IRS will be sending those checks to their last known address.
The IRS began issuing those payments last Friday, according to a story in The Washington Post.
Those payments will be prioritized to the lowest-income Americans, with those who have an adjusted gross income (AGI) of $10,000 or less being first in line.
April 24-Sept. 4: From now through September, the IRS will mail out about 5 million paper checks a week, according to The Post. On Friday, people with incomes above $20,000 but less than $30,000 will be sent checks.
On May 8, people with incomes of $30,000 to $40,000 will be sent checks. That process will continue weekly with checks sent to the next batch of people with AGIs $10,000 higher than the last batch until all the checks have been dispersed. IRS officials believe that will happen by Sept. 4.
Sept. 11: The IRS will send the remaining payments to those with no prior deposit information.
How to get a payment
A person who did not have to pay income tax or does not receive Social Security benefits can go to this Internal Revenue website tool and click on “Non-filers: Enter Payment Info Here” to submit direct deposit account information to receive a payment, according to Treasury Sec. Steven Mnuchin.
The payment will include $1,200 checks to adults who filed their income tax under the classification of “single” who had an adjusted gross income below $75,000 and those who filed as “head of household” with an AGI of less than $112,500.
Married couples who filed taxes jointly and made less than $150,000 will receive $2,400.
In addition, the government will pay all classifications of filers an additional $500 per dependent child.