WASHINGTON, DC — The news is starting to spread by word of mouth and social media; the stimulus checks are arriving in bank accounts.
Wednesday the Internal Revenue Service and the US Treasury Department unveiled a new tool to help you track the status of your check. Get My Payment will allow you to check on the status of your check and provide the IRS with your banking information so the check can be directly deposited.
“Get My Payment will offer people with a quick and easy way to find the status of their payment and, where possible, provide their bank account information if we don’t already have it,” said IRS Commissioner Chuck Rettig. “Our IRS employees have been working non-stop on the Economic Impact Payments to help taxpayers in need. In addition to successfully generating payments to more than 80 million people, IRS teams throughout the country proudly worked long days and weekends to quickly deliver Get My Payment ahead of schedule.”
The Treasury Department estimates a majority of those eligible for funds will receive them in the next two weeks.
Get My Payment is only updated once a day, usually overnight, so the IRS is stressing that you only check it once a day to avoid crashing the system.
Get My Payment is only available at irs.gov and it only takes a few pieces of information to use it.
Taxpayers wanting to only check the status of their checks will need:
- Social Security number
- Date of birth
- Street address
Taxpayers needing to add banking information will also need:
- Their Adjusted Gross Income from their most recent tax return submitted, either 2019 or 2018
- The refund or amount owed from their latest filed tax return
- Bank account type, account, and routing numbers
Facts about stimulus checks
Most Americans will receive a stimulus check, but not everyone will. If you meet the following requirements you can expect a check.
- You are a U.S. citizen or permanent resident who filed federal income taxes for 2018 or 2019 if you meet the income thresholds;
- You receive Social Security retirement, disability (SSDI), or survivor benefits; or
- You receive Railroad Retirement benefits.
Most of those receiving checks will receive $1,200 if their adjusted gross income is lower than these numbers:
- Single Filer: $75,000
- Head of Household: $112,500
- Married/Joint Filer: $150,000
Married/joint filers will receive $2,400 if their combined income is less than $150,000. You can also receive $500 for each dependent you claim under age 17.
If you make more than this, you could still receive a check. The IRS spells out who will not get stimulus money here.
One of the biggest questions about the economic impact payment is whether or not it is taxable. The good news it is not. Your stimulus check is tax-free.