If you are anxiously awaiting your Economic Impact Payment (a.k.a. coronavirus stimulus) from the federal government, you are not alone considering the 16 million or so American workers who have recently filed for unemployment in the wake of the COVID-19 pandemic. According to the Internal Revenue Service, automatic payment distribution to qualified recipients is scheduled to begin during the week of April 13, 2020.
For those who have already filed their 2018 or 2019 federal income tax returns, there is little else to do except “hurry up and wait.” The same goes for recipients of Social Security retirement, disability, or survivor payments, along with Railroad Retirement or survivor benefits. The IRS already has contact information for these people, and they do not need to take any additional action. While you are waiting for the stimulus dollars to arrive, the IRS is also releasing a “Get My Payment” tracking tool by Friday, April 17, 2020. Stimulus recipients can use this application to:
- Check payment status
- Confirm if they should expect direct deposit or a paper check
- Enter your bank account information for direct deposit if the IRS does not already have that information
If you think you may qualify for a stimulus payment, but you have not filed an income tax return for 2018 or 2019 (not everyone is required to file), you may need to take some extra steps. The IRS has established a “Non-Filers: Enter Payment Info Here” feature on their website to assist with determining payment eligibility and sending economic impact payments to qualified non-filers.
IRS – Economic Impact Payments