What To Know About Stimulus Checks

Written by Kayla White (News Writer)

Many Americans have been receiving stimulus checks, otherwise known as  the Economic Impact Payment, from the IRS to help recover from the coronavirus pandemic. This is a form of direct relief for American taxpayers that are approved by congress as a part of the CARES Act. Stimulus checks have been deposited directly via direct deposit with payment up to $1,200. This is a one-time payment depending on the U.S. resident’s income. Due to the slow process, people are still struggling to receive their stimulus check and are not sure how their checks are going to reach them.

The fastest way to receive the stimulus check is to provide the IRS with your direct deposit information. A possible stimulus check may already be in your account if you filed taxes in 2018 and were refunded. There will only be an estimated 5 million checks sent out per week, starting with the families who receive the lowest income. The IRS stated that anyone who gets Social Security retirement, disability, Supplemental Security Income, survivor, or Railroad Retirement benefits, is eligible for a stimulus check. The Stimulus check will simply come the same way the benefits do, whether it’s through direct deposit or a paper check in the mail. Others who collect Veteran Affairs (VA) benefits and have dependent children can get an extra $500 added to their stimulus check.

Because so many checks are being sent out, some checks have not reached citizens, causing many people to go online every day hoping for more updates on their checks. The most reliable online website to use to get updates on your personal Economic Impact Payment is on the IRS website. On that website, there is a tool called “Get My Payment” which is used to help Americans see the status of their Stimulus check and can provide new details that can update banking information and mailing addresses. The IRS has announced the tool Get My Payment is only updated once every day and is not like banking sites where you can have up-to-the-minute updates for users.

The next round of stimulus checks is expected to be sent to the banks no later than next week for those who are still waiting for their stimulus check. The U.S. Department of the Treasury stated those who have Social Security or survivor and disability non-filers will see their checks by May fifth. The Treasury Department announced that they have made “significant enhancements” to the Get My Payment tool which includes new expanded information and access to adding to your direct deposit information. IRS Commissioner Chuck Rettig mentioned that “these enhancements will help many taxpayers. By using the Get My Payment now, more people will be able to get payments quickly by being able to add direct deposit information.” But for safety precautions, the IRS warns that taxpayers should be careful when it comes to scam emails, phone calls, and text messages that refer to the stimulus check payments and to just got directly to irs.gov.

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