Waiting for a Government Stimulus Payment? Here's How to Check Its Status.
Millions of Americans are waiting for checks from the federal government to help them through economic fallout from the coronavirus outbreak. The IRS has set up a website to help people track the so-called economic impact payments.
The IRS has set up a website to help people track the so-called economic impact payments.
Millions of Americans are waiting for checks from the federal government to help them through economic fallout from the coronavirus outbreak. The IRS has set up a website to help people track the so-called economic impact payments, as well as determine payment eligibility.
Payment status can be checked here.
All U.S. citizens and legal resident aliens with social security numbers can qualify for payments. Filing a 2019 tax return isn’t required to receive money either. The IRS will use 2018 tax returns to base payment on if last years numbers aren’t yet filed.
People who file tax returns separately qualify with adjusted gross income, or AGI, of less than $99,000 a year. Joint filers qualify with AGI below $198,000. Several other adjustments to the $1,200 payment size are made depending on factors like dependents and income.
But filing a tax return at all isn’t required—not every American is required to file a return. The government will use the social security benefits database for people who typically don’t file returns and payments will be sent automatically.
For people who don’t file tax returns and aren’t receiving social security, they should enter “non-filers payment information” with the IRS.
According to the IRS, direct deposit is the fastest way to get the economic impact payment, or EIP. If you don’t normally receive your federal tax refund via direct deposit, you can provide the required banking information in the “Get My Payment” tool. If no banking information is on file or provided, payments will be mailed.
The IRS has also published a table, helping people navigate exactly what tools and websites to use.
Millions of American have lost their jobs in the battle against Covid-19 as shelter-in-place mandates have shut countless businesses. More than 20 million Americans have filed initial jobless claims over the past few weeks.
Usually April is the month U.S. taxpayers send money to the IRS. Not so in 2020. The tax filing deadline has been extended to July 15, and this April, the IRS, it seems, is doling out cash.
More than 650,000 U.S. Covid-19 cases have been confirmed as of Friday morning, according to Johns Hopkins. New York City and its surrounding counties remain the heart of the American outbreak.
Globally, confirmed cases topped 2.1 million recently. Deaths have tragically topped 140,000. The U.S. death toll has risen to more than 33,000, and 11,344 New York City residents have lost their lives to the virus.
Stocks futures were soaring Friday after Gilead Sciences (ticker: GILD) reported its antiviral drug Remdesivir was helping patients “rapidly” recover. Dow Jones Industrial Average futures are up 3.3%. S&P 500 futures have risen 3%. Gilead shares are up more than 10% in premarket trading.
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