Check on the Status of Your Economic Impact Payment

CANTON (News Talk 1480 WHBC) – This morning millions of Americans woke up to a pleasant notification from their banks, informing them that their stimulus payments had arrived.

As a part of the Federal COVID-19 rescue package, the International Revenue Service will be sending a Economic Impact Payment to American citizens to provide them with a bit of financial assistance during these difficult times.

Today marked the first day the payments began to be distributed. The US Treasury Department said earlier this week that 80 million people would receive their payment this morning.

Individuals are due up to $1,200 and couple will receive up to $2,400, plus an extra $500 per child. Individuals with an adjusted gross income $75,000 will receive the full $1,200. Those making more than $99,000 will nor receive anything.

The income thresholds would be doubled for couples. This means if a couple makes less than $150,000, they will receive the full amount. Reductions start after that.

So who gets their check first?

The IRS says those who already have provided them with direct deposit information, from their 2018 and 2019 tax returns, will likely be the first ones to receive the stimulus payments.

Within that group, it will be the people with the lowest incomes who will be the first priority. Social Security recipients will also automatically receive their payments, even if they have yet to file for a return.

What about the rest of us?

There are still millions of Americans who will not receive their stimulus payment today. Those who have not authorized the IRS for direct deposit could be waiting weeks until their check arrives in the mail.

However, citizens can expedite the process by updating their banking information, using the US Treasury’s new web portal.

The portal went live earlier this morning and allows citizens to fill for direct deposit. The portal also allows you to track the status of when your stimulus check will arrive.

You can access that portal by clicking here.