When will you get your coronavirus stimulus money? IRS launching new tool to tell you
A new tool from the Internal Revenue Service will be able to tell Americans when they can expect their coronavirus stimulus money.
“Get My Payment” is expected to be ready to use on April 17 and will allow people to track the status of their payment and find out when it’s scheduled to be mailed or deposited into their bank account, the IRS said Friday.
The IRS is sending money to Americans as part of the Coronavirus Aid and Economic Security Act, which was signed into law by President Donald Trump in March to provide economic relief amid the coronavirus pandemic.
The tool will also allow some to put in their bank account information so they can get their money faster instead of waiting for a check to be mailed, the IRS says.
The IRS announced the upcoming tool the same day it announced it created a page that allows people who didn’t file taxes in 2018 or 2019 to enter their direct deposit information so they can get their payment.
Some have already seen their checks show up in their banks accounts, and as many as 70 million Americans could get checks by Wednesday if they have direct deposit information on file, McClatchy News reported.
Those who have the information on file will get their money first.
Paper checks may not be mailed out for weeks or months, McClatchy News reports. Treasury Secretary Steve Mnuchin has said he hopes they’ll go out by May 4.
Americans who make less than $75,000 a year will be sent $1,200, plus an extra $500 for each dependent child. Married couples who make less than $150,000 together will receive $2,400 plus $500 for each dependent.
Those who make more will receive less money, depending on their income.
This story was originally published April 13, 2020 at 12:56 PM with the headline "When will you get your coronavirus stimulus money? IRS launching new tool to tell you."
