When do I get my stimulus check? This is a question that has been on the minds of many Americans since the COVID-19 pandemic began. With the government implementing various economic relief packages to support individuals and businesses, stimulus checks have become a lifeline for many. In this article, we will explore the factors that determine when you can expect to receive your stimulus check and what you can do to track its progress.
The first stimulus check, also known as the Economic Impact Payment, was authorized by the CARES Act in March 2020. This initial payment was designed to provide financial assistance to individuals and families affected by the pandemic. The amount of the payment was based on your income, filing status, and number of dependents. Since then, the government has issued additional rounds of stimulus checks, each with its own set of rules and eligibility requirements.
To determine when you will receive your stimulus check, consider the following factors:
1. Eligibility: If you are eligible for a stimulus check, the IRS will automatically deposit the funds into your bank account. If you did not receive the first or second stimulus check, you may need to file a tax return to claim the payment.
2. Bank Account Information: If you have provided the IRS with your bank account information, the stimulus check will be deposited directly into your account. This process is usually faster than mailing a check.
3. Direct Deposit: If you have a direct deposit setup with the IRS for your tax refunds, you are more likely to receive your stimulus check faster. Otherwise, the IRS will mail a check to your address on file.
4. IRS Processing Time: The IRS processes stimulus checks on a first-come, first-served basis. This means that the sooner you file your taxes or update your information with the IRS, the sooner you can expect to receive your payment.
5. COVID-19 Relief Legislation: The timing of your stimulus check can also be affected by new legislation. For example, the third stimulus check, authorized by the American Rescue Plan Act, was distributed in two batches. The first batch was sent to individuals who had already provided their bank account information to the IRS, while the second batch was sent to those who had not.
To track the progress of your stimulus check, you can use the IRS’s “Get My Payment” portal. This tool allows you to check the status of your payment and provides an estimated delivery date based on the information you have provided to the IRS. If you have not yet received your stimulus check, make sure to:
– Verify that you are eligible for the payment.
– Check if you have provided the IRS with your bank account information.
– Monitor the IRS “Get My Payment” portal for updates on your payment status.
Remember, patience is key when waiting for your stimulus check. The IRS is processing millions of payments, and it may take some time to receive your funds. If you have any concerns or questions, do not hesitate to contact the IRS directly.
