DORAL, FL – On April 17, the tool “Get My Payment” will be launched by the IRS to tell Americans when they can expect their stimulus money amid the coronavirus economic impact.
With this new resource, users will be able to track the status of their payment and discover when the Internal Revenue Service is planning to mail or deposit into their bank account, as informed by the Miami Herald.
The tool will also allow some people to put in their bank account information in order to “get their money faster instead of waiting for a check to be mailed,” said the IRS to the media outlet.
Please be aware that according to the IRS, people who have the information on file will get their money first. McClatchy News even reported that it’s possible for 70 million Americans to get a check by Wednesday if they have direct deposit information on file.
Paper checks may not go out before May 4, as reported by the Miami Herald based on words of the Treasury Secretary Steve Mnuchin.
The stimulus money was promised to Americans last month as part of the Coronavirus Aid and Economic Security Act, which was signed into law by President Donald Trump. Its main purpose is to alleviate the economic burden many residents are dealing with today after losing their incomes amid the coronavirus pandemic.
Americans who make less than $75,000 a year will be sent $1,200, plus an extra $500 for each dependent child. Married couples who make less than $150,000 together will receive $2,400 plus $500 for each dependent.
For more information, go to the “Economic Impact Payments” section of the IRS website.