After weeks of questions and confusion, promises and reassurances, the time is here, those government stimulus payments are on their way.
Here’s some helpful information on what you do and don't have to do to get your money.
The IRS says the first economic impact payments started going out over the weekend, and will continue going out for months.
Most direct deposit payments should be received within the next three weeks. Paper checks won't even start going out until May.
The IRS is launching two new tools to help you. The first, out now, allows people who did not file tax returns in 2018 or 2019 to submit direct deposit info to the IRS.
The second, out April 17, will allow you to track your payment and find out when it will arrive.
It's estimated that 90 percent of American adults will receive a stimulus payment.
Those who earn $75,000 per year or less will get the full $1,200, and the amount shrinks as income climbs toward $99,000.
Those who make over $99,000will get nothing.
Social Security recipients do get a payment, as do those receiving disability payments.
And again, you don’t have to register in any way, the government has your information.
Who doesn't get a payment?
- Anyone without a Social Security number
- Non-resident aliens
- Teens over 16 and young adults who are still claimed as dependents by their parents.
And here's one last bit of information to help you make sure you're not left out.
The IRS plans to send a letter to your last known address about two weeks after it sends out your payment.
That letter will tell you how to report it if you didn't receive your payment.
If you want to see how much to expect, just check out the stimulus check calculator.
As always, is you have a consumer alert, a scam or a warning, email me at firstname.lastname@example.org