UPDATE: Important deadline for stimulus checks
By
Staff, AccuWeather
Published May 12, 2020 7:30 PM EST
With tens of millions of Americans on the unemployment lines and looking for new jobs due to COVID-19 temporarily or permanently closing their places of work, the U.S. government has been helping to recover some of their lost paydays with stimulus checks. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, eligible Americans have been receiving a one-time direct cash payment of up to $1,200 and couples getting up to $2,400. Families with children will also see an additional $500 bump per child. A family with three children could receive up to $3,900 to help ease the blow from coronavirus impacts. It’s important to note these amounts are based on income levels, which basically means high-income earners ($95,000+ per individual and $190,000+ per couple) will get less and the people at the highest end of the income spectrum ($99,000+ per individual and $198,000+ per couple) will get nothing at all. The money from the CARES Act is distributed by the Internal Revenue Service (IRS) and is based on the 2018 or 2019 tax returns. If you haven’t filed your 2019 taxes yet, the income restrictions will be based on your 2018 taxes. The IRS estimates 130 million people have received payments worth more than $200 billion in the first four weeks of the stimulus program.
Photo by Elliot Alderson
Elliot Alderson
While the sorely-needed money has been trickling into the bank accounts of most Americans since April, many are still waiting to get the infusion of cash from the government. Now, the IRS is reminding Americans still waiting on stimulus checks of an important deadline. Eligible taxpayers have until 12 p.m. on Wednesday, May 13th to submit their direct deposit information to the Get My Payment website if they don’t want to receive their check via postal delivery. After entering all of the necessary information, you’ll get an approximate date of when your stimulus check will be directly deposited into your bank account.
Photo by Cottonbro
cottonbro
Missing the stimulus deadline doesn’t mean you will never receive the stimulus check, it could just take a little longer to get it to you since it will be arriving via snail mail.
That’s hard to say since there could be a backlog of eligible Americans who didn’t choose to receive the stimulus checks via direct deposit. However, the IRS is focused on getting everyone their money as quickly as possible. The IRS plans to send out 5 million paper checks per week while focusing on income thresholds in $10,000 increments. For example, people with incomes more than $20,000, but under $30,000, will be sent checks the first week. Then the next week, the incomes ranging between $30,000 and $40,000 will be sent their paper stimulus checks and so on. This process is expected to last until September 4th. The remaining payments for people who the IRS had no prior tax information will be sent on September 11th.
While you’re waiting for your stimulus money to arrive, it’s important to stay hypervigilant against any online scams. The IRS warns that you do not have to sign up or apply for anything at all in order to receive your payment. If you receive a call, email, Facebook message, tweet or any other communication, that’s an immediate red flag of a scam. The government will never ask you to verify personal information via phone and will certainly not ask for money so you can receive your stimulus money. AccuWeather is committed to keeping you informed on all fronts related to coronavirus. We have an interactive map showing the latest outbreaks and statistics on COVID-19 cases, plus in-depth coverage on how to protect yourself from coronavirus, including whether you should wear masks when going outside. We are also providing around the clock comprehensive coverage on AccuWeather TV network, podcast, plus Twitter and Facebook social media pages.
Report a Typo
News / Health
UPDATE: Important deadline for stimulus checks
By Staff, AccuWeather
Published May 12, 2020 7:30 PM EST
With tens of millions of Americans on the unemployment lines and looking for new jobs due to COVID-19 temporarily or permanently closing their places of work, the U.S. government has been helping to recover some of their lost paydays with stimulus checks. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, eligible Americans have been receiving a one-time direct cash payment of up to $1,200 and couples getting up to $2,400. Families with children will also see an additional $500 bump per child. A family with three children could receive up to $3,900 to help ease the blow from coronavirus impacts. It’s important to note these amounts are based on income levels, which basically means high-income earners ($95,000+ per individual and $190,000+ per couple) will get less and the people at the highest end of the income spectrum ($99,000+ per individual and $198,000+ per couple) will get nothing at all. The money from the CARES Act is distributed by the Internal Revenue Service (IRS) and is based on the 2018 or 2019 tax returns. If you haven’t filed your 2019 taxes yet, the income restrictions will be based on your 2018 taxes. The IRS estimates 130 million people have received payments worth more than $200 billion in the first four weeks of the stimulus program.
Photo by Elliot Alderson
Dire deadline for stimulus payments
While the sorely-needed money has been trickling into the bank accounts of most Americans since April, many are still waiting to get the infusion of cash from the government. Now, the IRS is reminding Americans still waiting on stimulus checks of an important deadline. Eligible taxpayers have until 12 p.m. on Wednesday, May 13th to submit their direct deposit information to the Get My Payment website if they don’t want to receive their check via postal delivery. After entering all of the necessary information, you’ll get an approximate date of when your stimulus check will be directly deposited into your bank account.
Photo by Cottonbro
What happens if I miss the stimulus deadline?
Missing the stimulus deadline doesn’t mean you will never receive the stimulus check, it could just take a little longer to get it to you since it will be arriving via snail mail.
How long will it take to get my stimulus check via mail?
That’s hard to say since there could be a backlog of eligible Americans who didn’t choose to receive the stimulus checks via direct deposit. However, the IRS is focused on getting everyone their money as quickly as possible. The IRS plans to send out 5 million paper checks per week while focusing on income thresholds in $10,000 increments. For example, people with incomes more than $20,000, but under $30,000, will be sent checks the first week. Then the next week, the incomes ranging between $30,000 and $40,000 will be sent their paper stimulus checks and so on. This process is expected to last until September 4th. The remaining payments for people who the IRS had no prior tax information will be sent on September 11th.
Photo by Rupixen
While you’re waiting for your stimulus money to arrive, it’s important to stay hypervigilant against any online scams. The IRS warns that you do not have to sign up or apply for anything at all in order to receive your payment. If you receive a call, email, Facebook message, tweet or any other communication, that’s an immediate red flag of a scam. The government will never ask you to verify personal information via phone and will certainly not ask for money so you can receive your stimulus money. AccuWeather is committed to keeping you informed on all fronts related to coronavirus. We have an interactive map showing the latest outbreaks and statistics on COVID-19 cases, plus in-depth coverage on how to protect yourself from coronavirus, including whether you should wear masks when going outside. We are also providing around the clock comprehensive coverage on AccuWeather TV network, podcast, plus Twitter and Facebook social media pages.
Related: