The first wave of stimulus payments have been distributed. The economic impact payments started disbursement on Saturday, April 11, according to the IRS.
Many people are waking up to find payments of $1,200 or $2,400 in their bank accounts. Payments will continue to be disbursed through April to over 60 million households that have their direct deposit information on file with the IRS, as reported by the House Ways and Means Committee.
Social Security recipients with direct deposit, who don’t usually file taxes, will receive their disbursements towards the latter of April.
The final round of payments will be disbursed to taxpayers without direct deposit in May via paper check in the mail. The checks will be sent to the taxpayer’s address on file with the IRS.
Since the IRS is only capable of sending up to 5 million checks per week, it can take up to five months for checks to be received.
If you are a qualifying taxpayer that filed taxes in 2018 or 2019 with direct deposit information listed with the IRS and still didn’t receive your payment, you can check your payment status on a portal that will be launched on Friday, April 17.
The “Get My Payment” portal will provide information on when payments can be expected to be deposited or mailed. The portal will also have the option for people to enter direct deposit information or choose to receive a paper check if they didn’t receive a payment in April.
Check out the links below to find out more information.
Am I Eligible for an Economic Impact Payment?
I didn’t file taxes in 2018 or 2019, what should I do?
I am a Social Security Beneficiary, what happens to my payment?
