As part of the 2.2-trillion-dollar bill known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, millions of eligible US residents have been receiving 1,200-dollar stimulus checks to help them cope with the financial effects of the Covid-19 crisis in the States, where unemployment has rocketed in recent weeks.
As of Friday, 157.9 billion dollars had been paid out in 88.1 million checks, with a total of 150 million non-taxable payments expected to be made out by the end of the scheme.
Stimulus payments: quicker by direct deposit
However, some are having to wait longer than others for their cash. On 20 April, America’s Internal Revenue Service (IRS) started sending out paper checks by regular post to those who have not provided direct deposit information, mailing around five million per week in a process which could take up to 20 weeks.
On the other hand, those receiving their money by direct deposit - this began on 13 April - are likely to be paid far more quickly. According to this Expected Timeline for Economic Impact Payments published by the House Committee on Ways and Means, if you confirm your direct deposit information by the Thursday of one week, your stimulus check will be paid into your account the following week.
Please note that if you provided direct deposit information in your 2018 or 2019 tax return, your stimulus check should be paid into your account without the need for you to take any further action.
Adding direct deposit info: filers and non-filers
If you did not give your account details, however, you can set up a direct deposit for your stimulus check at the IRS’ Get My Payment portal. You’ll find a useful, step-by-step guide that takes you through this procedure here.
Go to the Get My Payment portal
Meanwhile, if you are not required to file tax returns, you can set up a direct deposit using the Non-Filers: Enter Payment Info tool to give the IRS your account details. You can find out more about the Non-Filers portal, and whether you need to use it to get your check, here.
Go to the Non-Filers: Enter Payment Info tool
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May 05, 2020 at 06:06PM
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US stimulus checks: how to get your payment faster - AS English
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