Treasury Department nearing end of stimulus payments; $218 billion sent so far

Close up of the face of a sample COVID-19 coronavirus stimulus payment check from the Treasury Department

Close up of the face of a sample COVID-19 coronavirus stimulus payment check from the Treasury Department

Taxpayers should check the Frequently Asked Questions (FAQs) for more information.

This is important because if a person didn't have a baby in 2018 but previous year they had one the tax filing is different. Some people have been getting a different amount of the $1,200 expected and the IRS noted that they had to revert to the 2018 tax return to calculate eligibility and amount of the economic impact payment.

Starting later this month, the number of paper checks being delivered to taxpayers will sharply increase.

People hoping to speed up the process of receiving their stimulus money have until Wednesday to provide their direct deposit information to the IRS. Married couples who file jointly and make less than $150,000 receive $2,400. The government can not provide direct deposit once the process of sending a paper check has commenced.

With Get My Payment, you can hopefully add your bank info, although the glitch-prone tool has not worked the way it's supposed to for everyone.

That's where paper checks will be prepared for delivery to people's homes starting in late May and continuing into June.

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The country's roughly 8.4 million "unbanked" households, or those who lack bank accounts, would also be impacted by this issue. Taxpayers can submit their information and check on the status of their payment at the IRS' website. Who might these people be?

Most Americans qualify to get a coronavirus stimulus check, and you can even get it faster via direct bank deposit - but to do so, an important deadline is coming up on Wednesday.

If you switched banks since you last filed your taxes, the IRS might have sent your stimulus check to a closed account or one that is no longer active.

Be under the age of 17 at the end of the year for the tax return.

130 million Americans have already received their payments in the first four weeks after the stimulus money was first distributed.

If you did receive a tax return but it went to a temporary account set up by a tax return organization - which allows customers to avoid paying anything out of pocket - you will need to provide your deposit information to the IRS via the "Get My Payment" tool. If the IRS says that if you don't take this step, it will mail the check to you rather than rely on direct deposit.

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