While some people have already reported receiving their individual $1,200 CARES Act direct payment, I know many others are still waiting to get this stimulus.
Below are some tools to help you track your payment and understand what to expect.
WHERE IS MY PAYMENT?
Across the country, some stimulus payments have already been directly deposited into people’s bank accounts—be sure to check your account to see if yours is there, as this process will continue over the coming weeks. The payment information from your 2018 or 2019 tax returns is used to distribute this stimulus payment to you. If you received your tax refund electronically in those years, you will receive this payment electronically to your most recent bank account on file.
If the IRS does not have direct deposit information on file for you for tax years 2018 or 2019, this payment will come to you by mail to the last address you provided the IRS. These paper checks will start being issued in late April and early May—starting with individuals with the lowest incomes—at a rate of about 5 million checks per week. This process could take up to 20 weeks.
The IRS has created a portal to help you check on the status of your payment and enter bank information for a faster electronic payment.
I AM A SOCIAL SECURITY, SUPPLEMENTAL SECURITY INCOME (SSI), SOCIAL SECURITY DISABILITY OR RAILROAD RETIREMENT RECIPIENT AND I DO NOT USUALLY FILE A TAX RETURN—DO I NEED TO DO ANYTHING EXTRA TO RECEIVE MY PAYMENT?
No. Recipients of Social Security, Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), and Railroad Retirement benefits who are not typically required to file a tax return do not need to take action. The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate your payment. You will receive it by direct deposit or paper check, depending on how you normally receive your benefits.
However, if you have dependents under the age of 17 who are eligible for the $500 per child payment, you need to take an extra step to claim that additional funding. Use this IRS website to input the necessary child dependent information.
I AM A VETERANS BENEFICIARY, I DON’T MEET THE TAXABLE INCOME THRESHOLD OR I AM ANOTHER NON-TAX FILER—HOW DO I GET MY PAYMENT?
If you have a Social Security Number (SSN) and don’t usually file taxes, the IRS has set up a portal for non-filers in these categories to enter payment information and claim any eligible dependents. If you are a non-filer, you should use this website to be sure the IRS has the most up-to-date information so they can quickly get you your payment.
The IRS announced that they are working to make sure those receiving veterans benefits will receive their stimulus payments automatically. Recipients of veterans disability compensation, pension or survivor benefits from the Department of Veterans Affairs who are not required to file tax returns are still encouraged to use the non-filer portal to be sure the IRS has your latest information, but can also wait as the IRS works to simplify delivery for these groups.
HOW MUCH CAN I EXPECT TO RECEIVE?
Single filers earning up to $75,000, head of household filers earning up to $112,500 and married couple joint filers earning up to $150,000 will receive $1,200 for each adult and $500 per dependent child under 17. Payments decrease by $5 for every $100 of income above those amounts, and are completely phased out for income levels higher than $99,000 for single filers, $136,500 for head of household filers and $198,000 for married joint filers.
All individuals must have a Social Security Number (SSN) to qualify, with the exception of military families where only one spouse has a SSN. Employment status does not impact this payment—whether or not you have a job, you will be receiving this. This stimulus payment is not taxable and does not count as income for eligibility purposes for federal programs.
I HAVE MORE QUESTIONS.
The IRS has created a list of frequently asked questions and other tools to help you determine your eligibility, navigate address changes, understand if you need to take action and more. Find that resource here.
You can also contact my office and my staff will help you find more information.
Still have questions about your stimulus check? The IRS has created a new phoneline to handle inquires. Call 800-919-9835 to speak with an IRS representative.
