Many people are wondering: When will I receive my stimulus check?
The IRS has launched a new tool that allows Americans awaiting their stimulus checks to check on the status of their payments.
The tracker, called "Get My Payment," is live on the organization's website.
According to the site, the application will provide information about payment status, payment type and whether the service needs more information from you, such as your bank account number.
On Wednesday morning, the site had a high volume of visitors. "Due to high demand, you may have to wait longer than usual to access this site. We appreciate your patience," read a disclaimer on the load screen.
If you already have direct deposit set up with the federal government for your tax refund, you should expect to the money to appear in your bank account next week or soon after. If you don't have direct deposit, look for your check in the mail beginning in early May; and the lower income you are, the sooner you'll get it.
Here are the details: According to the House Ways and Means Committee, starting mid-April — likely the week of April 13 — the IRS is expected to make approximately 60 million payments to Americans through direct deposit for people who used direct deposit on their 2018 or 2019 tax returns. This will include Social Security beneficiaries who filed federal tax returns that included direct deposit information.
Shortly after that — hopefully within 10 days — after the first round of payments are made in mid-April, the IRS plans to make a second round of payments. These payments will be made to Social Security beneficiaries who did not file tax returns in 2018 or 2019 and receive their Social Security benefits via direct deposit. The estimates are that nearly 99 percent of Social Security beneficiaries who do not file a return receive their benefits through direct deposit.
Approximately three weeks after the first round of payments are made (the week of May 4), the IRS is expected to begin issuing paper checks to individuals. The checks will be issued in reverse “adjusted gross income” order — starting with people with the lowest income first.
As for how much money you'll get, the CARES Act provides payments of up to $1,200 per adult and $500 per child. Individuals making up to $75,000 ($150,000 for married workers) will receive payments of $1,200 with an additional $500 payment per minor child. The payments decrease ratably and stop altogether for single workers making more than $99,000 ($198,000 for married workers and $218,000 for a family of four.)