IRS Launches a New Tracking Tool to Help Americans Know When to Expect Their Stimulus Check
Steven Mnuchin, the Treasury Secretary, said on Monday, 80 million Americans will receive their stimulus checks through direct deposit to their bank accounts by Wednesday.
Speaking during the daily COVID-19 press briefing of President Donald Trump, Mnuchin announced that the payments are to be "directly deposited into the bank accounts" of the recipients who have their 2018 or 2019 tax return filed.
Meanwhile, those who are receiving benefits from Social Security will also collect a payment, in the same manner, they collect Social Security benefits.
The Treasury Secretary also noted that, if an individual does not fall under any of the two categories, they can access the Internal Revenue Service (IRS) website and enter their information to choose if they opt for their check to be mailed to them, or have it deposited in their checking account.
To Help Americans Track Their Stimulus Checks
The IRS is committed to helping the Americans in tracking their "$1,200 stimulus payments along with a new tool" the government agency is expecting to launch this week.
Relatively, the first of the payments with the primary objective of helping the Americans after the pandemic virtually shut down the economy of the U.S. were already sent out over the weekend.
The IRS posted on its Twitter account a message saying that it already "deposited the first 'Economic Impact Payments' into the bank accounts of the taxpayers."
It continued on its post that they, in the agency, know how many people are already anxious to receive their payments so, it said, it would resume issuing payments as fast as possible.
Meanwhile, the IRS tracking tool, also known as "Get my payment," is designed for Americans so they'll know when to expect their check that is part of the $2.2 trillion bailout of the U.S. economy.
The IRS said it expects the site to be up and running by Wednesday, April 17.
Qualified Recipients of the Stimulus Checks
The plan, which President Trump signed, and the Congress passed last month, consists of checks amounting to $1,200, to be issued to Americans who had their income tax filed as "single" with an adjusted gross income amounting to less than $75,000.
The same amount of checks will be given to those who had their income tax filed as "head of household," with an adjusted gross income amounting to below $112,500.
Meanwhile, married couples who jointly filed taxes, and who earned below $150,000 will be receiving $2,400. On top of all the said amounts, the government is also paying $500 for each qualifying child.
Despite the explanation of who qualifies for payments, there is still some confusion over whether those who get SSI should provide the IRS with information. However, they, too, can fill out the form with their direct-deposit information.
Moreover, the agency is planning to develop an online portal as well, for those who have filed taxes but may need to have their direct deposit details updated.
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