Here’s how to track your $1,200 payment with a new IRS tool ….
The IRS has launched a ‘Get My Payment’ tracking tool for the $1,200 stimulus checks that it’s sending to most Americans
Checks for millions of Americans, a key part of the $2.2 trillion stimulus bill, started to roll out this week.
That money can’t come soon enough for the more than 16 million people who are suddenly out of a job, and everyone else who’s worried about how to pay their bills, rent and withstand the coronavirus’ economic onslaught.
The Internal Revenue Service will send $1,200 paments to individuals with adjusted gross income below $75,000 and $2,400 to married couples filing taxes jointly who earn under $150,000. The government will also pay $500 per qualifying child.
The payouts — formally dubbed “economic impact payments” — decline above the $75,000/$150,000 threshold and end at $99,000 for indviduals and $198,000 for married couples.
The money will appear automatically in your bank account if the IRS has your account information on file from previous years’ tax returns. If the IRS doesn’t already have your account information, or if you didn’t file taxes in 2018 or 2019, you can submit your information on this website.
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Economic Impact Payments will be distributed automatically to most people by this week, the IRS said. Approximately 80 million Americans will get their payments this week, according to the Treasury Department.
On Wednesday, the IRS launched a tracking tool called “Get My Payment.” The tool will give people an idea on when they can expect a deposit or a check in the mail, the IRS said. It will also tell users if the IRS needs more information, such as bank account information.
The “Get My Payment” tool went live on April 15. That date, up until last month, was the deadline for taxpayers to file their federal income taxes and pay any taxes owed. Treasury Secretary Steven Mnuchin pushed the filing and payment deadline back to July 15 as one way to help taxpayers keep money on hand now.
Though 80 million Americans are expected to get their payments this week, others will be getting their checks later in the month and even further into the year. Here’s an estimated timetable, according to federal lawmakers, as of early April.
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