The first batch of $ 1,400 stimulus checks will be sent out this weekend. However, according to the Internal Revenue Service, some residents can only receive their check next week.
This comes after the $ 1.9 billion COVID-19 aid package received the final approval of President Joe Biden on Thursday. The funds are aimed at helping the US fight the coronavirus pandemic and alleviate the extra stress caused by the country’s economy.
As of Saturday, the first round of stimulus checks have already been sent out, but it is unclear exactly how many Americans will receive them.
If you do not receive your check this weekend, you can receive it next week, either by direct deposit, or by mail as a check or a prepaid debit card, according to the IRS. The vast majority will be sent by direct deposit.
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In addition to stimulus checks, the relief package also extends $ 300 weekly emergency unemployment benefits in early September and will also extend tax credits over the next year for children, child care and family leave, according to a report by the Associated Press.
While you’re waiting to receive your stimulus email, here’s what you can do in the meantime:
As of Monday, March 15, the IRS is launching its “Get My Payment” website so residents can track the status of their stimulus test.
According to the website, the IRS is still reviewing the tax provisions of the COVID-19 relief package.
People are asked not to call the IRS about their stimulus tests. Once the site is launched on Monday, you should be able to track when you may receive your check.
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You can visit the website here.
According to the IRS, your stimulus check is calculated on your tax return for 2019 or 2020, which you have also recently completed.
In other words, if the IRS has already received your tax return for 2020, your third stimulus check will be based on it.
“This includes anyone who successfully registered online with IRS.gov last year using the agency’s Non-Filers tool, or alternatively filed a special simplified tax return with the IRS. If the IRS has received and processed a taxpayer’s 2020 return, the agency will perform the calculation based on that return, “the IRS said in a statement.
If your income dropped in 2020, your stimulus test is likely to be bigger, according to a CNBC report.
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These third-round stimulus checks are ‘bigger’ for most people, the IRS said, as most families will receive $ 1,400 per person, including all dependents claimed on their tax returns.
“This usually means that a single person without dependents will receive $ 1400, while a family of four (married couples with two dependents) will receive $ 5,600,” the IRS said.
You can learn more about filing taxes on the IRS website.
There are millions of stimulus tests spread across the country.
Just remember that patience is the key.
The IRS said that the payments will be made automatically and that you do not have to do anything to ensure that your stimulus test arrives.
If you feel upset on Monday and have not yet received your check, do not forget that you can also use the Get My Payment tool.
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This is what you need to know if you are not yet sure if you are eligible to receive a stimulus test:
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The stimulus controls will be up to $ 1400 per individual and dependent.
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Single archives that earn an adjusted gross income of up to $ 75,000, and with heads of a household earning up to $ 112,500, will receive $ 1,400, according to a CNBC report.
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Married couples earning up to $ 150,000 could receive $ 2,800, according to CNBC. The taxpayers will also receive $ 1,400 for each dependent, CNBC reports.
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Residents must also have a social security number to be eligible to receive a stimulus payment.
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The payments are also based on AGI 2020 if a resident has already filed tax returns for last year. If not, the payments will be based on 2019 revenue, according to CNBC.
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The payments will again be sent by direct deposit, just like the other two stimulus checks. However, if the Internal Revenue Service does not have your direct deposit information, you can receive your check by email.
The president will discuss the COVID-19 relief package and what can be expected in this next phase of the country’s fight against the pandemic during Thursday at 7 p.m. You can watch Biden’s speech here.
RELATED: President Joe Biden Signes $ 1.9T Bill for First Time
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