Looking for your federal stimulus check? They are coming — and the first round is coming soon.
The first round of checks should be deposited in the coming week, according to the Internal Revenue Service — although some KVOE listeners reported receiving their stimulus checks Friday after the news story posted Saturday morning. The agency says eligible taxpayers who filed tax returns for either 2018 or 2019 and who chose direct deposit for their refund will be first to receive their Economic Impact Payment, as it’s officially being called. People who receive Social Security retirement, Social Security Disability Insurance, survivor or disability benefits or railroad retirement benefits but did not file tax returns for 2018 or 2019 will get payments “in the near future.”
The IRS also says it will provide an online tool, “Get My Payment,” within the next week. This will let people track the status of their payment, including the date their payment is scheduled for deposit. People can also provide a bank account — if they choose — to get a direct deposit faster than if they wait for a paper check.
Individuals are eligible for a one-time payment of up to $1,200. Married couples can receive up to $2,400 with payments of $500 for qualifying children. All payments are based on income.
More information about the Economic Impact Payments is online at www.irs.gov/coronavirus.
