The IRS will base the payments on the adjusted gross income of taxpayers’ 2019 return. If a 2019 return hasn’t been filed (the deadline has been extended for two months), the IRS will use information from the 2018 return. If the return doesn’t contain direct deposit information, or if the IRS doesn’t have returns from 2018 or 2019, a paper check will be issued later.
By Stacy M. Brown, NNPA Newswire Senior Correspondent
Payments from the $2.3 trillion federal coronavirus stimulus package have begun hitting individual bank accounts.
In a memo, IRS Treasury Secretary Steven Mnuchin said the first round of payments were sent on Thursday, April 9, and should arrive in bank accounts beginning no later than Tuesday, April 14.
Most Americans are eligible for and will receive stimulus payments, except for those who owe back child support payments.
Single-filers who make less than $75,000 will receive $1,200, while married couples making less than $150,000 are scheduled to get $2,400. An additional $500 payment will be provided to households for each child under 17.
The IRS will base the payments on the adjusted gross income of taxpayers’ 2019 return. If a 2019 return hasn’t been filed (the deadline has been extended for two months), the IRS will use information from the 2018 return. If the return doesn’t contain direct deposit information, or if the IRS doesn’t have returns from 2018 or 2019, a paper check will be issued later.
Electronic payments also will go out to those receiving Social Security and disability, even if recipients don’t typically file a tax return.
For those who haven’t provided the IRS with bank account information, paper checks are expected to begin reaching households in May, but, in some cases, recipients won’t receive payment until September.
“If we have your bank information, you’ll get it within two weeks,” Mnuchin said. “Social Security, you’ll get it very quickly after that. If we don’t have your information, you’ll have a simple web portal, we’ll upload it. If we don’t have that, we’ll send you checks in the mail.”
Treasury officials said they expect 50 million to 70 million Americans to have received directly deposited payments by April 15, which is one day later than what the IRS said it expects the deposits to become available.
The IRS does plan to set up a portal on its website where filers can enter direct deposit information if the agency doesn’t already have those details. Those who have provided bank information on their 2018 or 2019 returns don’t have to do anything unless their information has changed.
As for paper checks, the Washington Post reported that the IRS plan would distribute those to the lowest-income Americans first, prioritizing payments for individual taxpayers with incomes of $10,000 or less on April 24.
Checks for earners of $20,000 or less would be in the mail May 1, followed by those with incomes of $30,000 on May 8, $40,000 on May 15, and continuing in income increments of $10,000 each week, according to the plan. The IRS plans to issue about 5 million checks each week.
Stimulus checks would be issued on Sept. 4 to joint taxpayers earning $198,000, the maximum allowed under the stimulus. All others would be sent on Sept. 11, in most cases, because the IRS did not have prior tax information for them, and they need to apply for the checks.
What about people on welfare? And those who receive food stamps?
I’m on social security n I didn’t make enough to file taxes will I still receive check?
When do I receive my stimulus class or in my direct deposit
So if my derect on my 2018 tax is not active anymore and i don’t have a bank account anymore would i be getting a paper check in the mail also and when i filed my taxes in 2018 i had my old address on it so do i have to send the irs my new address if so can i get a net spend card and have my money sent to my netspend card when my card get here in the mail one more thing the irs suppose to send out a website stating that it would have a website for us to upload are new address on it is that true also.can u answer all these questions please and thank you
When will the web portal be available too input direct deposit information for stimuli checks? Thank you,. Sincerely,
I have direct express card will the stimulus go on that?
I just got divorced 4 weeks ago. I filed a joint return for 2018 and 2019. I didn’t file an injured spouse form , which now I wish I would have. My husband now ex husband owes back child support and IRS has taken our return for back support. Its not my debt so will I get my $1,200 and my ex husband doesn’t? I am confused.
What If I am no longer with my spouse and me and my son moved out and me and him filed joint and he does not give me the money for me and my son what do I do then
I just got divorced 4 weeks ago. I filed a joint return for 2018 and 2019. I didn’t file an injured spouse form , which now I wish I would have. My husband now ex husband owes back child support and IRS has taken our return for back support. Its not my debt so will I get my $1,200 and my ex husband doesn’t? I am confused.
I receive ssi and it was saying I had to file on the IRS website and I may or may not be accepted to receive the stimus check.. I’m confused because before it said we didn’t have to do anything that we would get it automatically.. please tell me something. Am I going to get it or not.(automatically)
To combat the coronavirus,If you have a high fever magnesium citrate will kill the fever and chills within eight hours, making you a lot stronger to fight the virus
How long does it take for the stimulus check come
Do I get a stimulus check
Comments are closed.