If your finances have been hit hard due to the Covid19 outbreak, the IRS stimulus check can’t come quick enough. Getting laid off, having your hours cut, or eking out a living on benefits has sent lives into turmoil. So, the news of getting coronavirus relief payments is welcome indeed. But you’re probably wondering when the stimulus checks are coming from the IRS.
Most people should receive their stimulus payments by the end of April. But some people may have to wait longer. This article answers your questions on when you should get your IRS stimulus check.
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What Are Stimulus Checks?
Stimulus checks are part of the government’s Coronavirus aid package. Taxpayers in the U.S. will receive checks of up to $1,200, and each child will receive $500. These stimulus payments are in addition to new unemployment benefit rules and the Families First Act. Together, the Covid19 relief checks are part of the $2 trillion boost for the economy.
The majority of Americans will get the stimulus checks soon. However, not everyone qualifies. For example, you may need to submit your tax return for 2019. If you qualify, you might have to take some steps to ensure you get your check as soon as possible.
But wait. If everyone is supposed to get a stimulus check, why would some not qualify? Who’s eligible for the relief checks?
Who gets stimulus checks?
The amount you can receive under the IRS Economic Impact Payment program depends on your earnings. The figures are based on adjusted gross incomes (AGI). Here’s a quick summary of how much you can expect to get:
- A single U.S. taxpayer who earns under $75,000 gets the full $1,200
- Heads of households whose AGI is $112,500 or less get $1,200
- Married couples without children earning less than $150,000 get $2,400
- Children of eligible parents get $500 each
Anyone earning above those limits will still receive a stimulus check in April, but it gradually decreases in line with earnings.
Who doesn’t qualify for the stimulus payments? Anyone in the following categories:
- Single U.S. residents earning over $99,000
- Heads of households with an AGI over $146,500
- Married couples who earn over $198,000
You can calculate how much you’ll receive from the IRS on its website.
When Are Stimulus Checks Coming from the IRS?
But the big question is: when can you expect to get your Covid19 relief payment?
According to the IRS, payments will start getting sent in April. You can expect to receive your stimulus check from the IRS quickly if you’ve already filed your 2018 or 2019 tax returns. The money will come as a direct deposit in your bank account if you have it set up with the IRS. If not, you’ll receive a paper check in the mail, and you may be waiting until May to get your check. However, some reports indicate that it could take longer for everyone eligible to receive their checks.
If you haven’t yet filed your tax returns of 2018 or 2019, now is the time to do it. The tax return deadline has been extended until July 15. The quicker you get your tax return filed, the faster you’ll get your stimulus cash.
When do Stimulus Checks Come if You Get Benefits?
How can you get your stimulus payment if you receive benefits? Because, typically, you don’t need to file tax returns.
You don’t have to worry about getting your stimulus check. The government says that if you’re receiving benefits, your relief payment will come automatically. You’ll either get a paper check or money paid straight into your bank account.
The good news is that the government will prioritize payments to people who are receiving benefits. Newsweek reported Treasury Secretary Steve Mnuchin as saying that those who get benefits will get their stimulus checks “very quickly” after the middle of April.
The quickest way to get your Covid19 stimulus money is if the IRS has your bank details. If you usually get a check in the mail with your benefits, you may have to wait a few weeks for your stimulus payment to arrive.
To speed up receiving your stimulus check, you can register your bank details with the IRS. According to its website, by mid-April, you should be able to register online to get your coronavirus relief payments asap.
How to get stimulus checks if you don’t file tax returns?
What if you’re struggling on a low income and don’t file tax returns? How can you make sure that you get your stimulus aid check fast? You may be one of the many Americans who don’t earn enough to live on but can’t get welfare. You don’t have to worry — you will get your stimulus money if you register with the IRS.
TurboTax and the IRS have developed a free tool so you can file a minimal tax return. You just need to fill out a few details and then register. Registering ensures that you get your stimulus check as fast as possible.
Because the government has promised to give priority to low-income families, you should get your stimulus money by the end of April.
Receiving Your Stimulus Aid Check
If you’re eligible for the relief payment, you’ll get a notice in the mail from the IRS. This will have information on when the payment was made and where it was made. If you receive a notification about your stimulus check, but no money has arrived, contact the IRS.
IRS Stimulus Checks — How to Avoid Scams
Unfortunately, scammers and hackers are taking advantage of the Covid19 pandemic. In this economic hardship, the last thing you want is to have your money stolen. How can you protect yourself from Covid19 scams?
The FBI says that the government never calls, emails, or contacts people for their personal information. So, never give out your personal details if you get unsolicited phone calls or emails.
When Will You Get Your Stimulus Aid Check: A Takeaway
The majority of Americans will start receiving Covid19 relief payments soon. Those receiving benefits or on a low income should be the first ones to get the stimulus checks by the end of April. You can get your check faster if you register with the IRS and set up direct deposit.