The IRS is depositing millions of economic impact payments this week, also known as stimulus checks, as part of the coronavirus aid package. Now, you can officially track when you should expect your payment.
The IRS said it issued the first economic impact payments into taxpayer's bank accounts on Saturday, and the U.S. Department of Treasury says over 80 million Americans will receive their payments this week.
"The U.S. Department of the Treasury and IRS expect tens of millions of Americans will receive their payments via direct deposit by Wednesday, April 15," the Treasury Department said in a release.
So now lies the million-dollar, or should we say $1,200 question: When will I get my stimulus check?
The IRS has released a new tool called "Get My Payment," to allow everyone to check the status on their economic impact payments. The tool includes details like the date peoples' payments are scheduled to be deposited or mailed to them.
When using Get My Payment, you will need to enter your social security number or Tax ID number along with your birth date, address and zip code.
An additional feature on Get My Payment will allow eligible people to provide bank account info so they can receive payments more quickly rather than waiting for a paper check. The IRS says this feature will be unavailable if the payment has already been scheduled for delivery.
The IRS says direct deposit is the fastest way to get payments or tax refunds.
If you don't normally file tax returns, the IRS recently launched a new tool to help you register for the payments and enter bank account information and other personal information.
Eligible taxpayers who filed tax returns for either 2019 or 2018 and chose direct deposit of their refund will automatically receive an Economic Impact Payment of up to $1,200 for individuals or $2,400 for married couples and $500 for each qualifying child. Individuals who receive Social Security retirement, survivors or disability benefits, SSDI or who receive Railroad Retirement benefits but did not file a return for 2019 or 2018 will automatically receive a payment in the near future.
Have you filed your 2019 taxes?
What was your filing status in 2019
What was your adjusted gross income in 2019
How many children did you claim as dependents in 2019
The IRS urges taxpayers to be on the lookout for scam artists trying to use the economic impact payments as cover for schemes to steal personal information and money.
"Remember, the IRS will not call , text you, email you or contact you on social media asking for personal or bank account information – even related to the economic impact payments," the IRS said.