When Will Stimulus Checks Arrive?
As soon as President Trump signed the $2 trillion coronavirus stimulus package into law, many Americans had one question. When will my check get here? Yesterday, the government laid out the framework for when we'll see our stimulus checks.
First of all, do you know if you're eligible? Tax filers with an adjusted gross income of up to $75,000 and married couples filing jointly and earning up to $150,000 will receive the full payment of $1200 per adult. For filers above those amounts, your check will be reduced by five dollars for every $100 above the income maximums. Parents will also get $500 per child.
The next step is easy. You wait. The IRS will calculate and send out the payment to you. If you have already filed your 2019 tax returns, the IRS will use that information to calculate your payment. The funds will be directly deposited into the same bank account your tax return was. If the IRS does not have your direct deposit information, they plan on debuting a website soon for individuals to enter their bank information.
So when will the checks go out? According to officials, payments should start to head out in the next three weeks. If you need help with any questions regarding your stimulus check you can head to IRS.gov/coronavirus.