The IRS launched a website so taxpayers can find out when they will get their economic stimulus payment. We explain the details about the stimulus and what you need to do to get your check as quickly as possible.
Beginning April 15, those taxpayers who qualify for a stimulus check of up to $1,200 as economic relief for the coronavirus crisis will be paid directly into their bank account, if they have direct deposit set up, according to the federal government.
For those who have not activated the electronic fund transfer option with the government, the IRS opened a web portal called Get My Payment to help people get their economic stimulus check as quickly as possible.
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According to Steven Mnuchin, U.S. Secretary of the Treasury, once direct deposit is set up through the Get My Payment portal (https://www.irs.gov/coronavirus/get-my-payment), the government will automatically send payment to your account within days. If you do not have the direct deposit option set up, the check will be mailed, which could take longer.
If you are one of the 8 out of 10 taxpayers who receive their tax refund through direct deposit, you don’t have to do anything, since the IRS will use the same bank account to deposit the check. But if you’re among that 20 percent who get their refunds in the mail (or don’t get anything at all), this is what you’ll have to do to get your economic stimulus check automatically transferred to your bank (https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know).
How to sign up for direct deposit for the stimulus check
As of April 15, the IRS has a dedicated web portal called Get My Payment that you can use to set up electronic transfer of your financial relief check by COVID-19 to your bank account, if you have not set up direct deposit with the IRS. You may need to file your 2019 and 2018 tax returns to complete the process.
- Enter the Get My Payment portal and click on the blue Get My Payment button to set up direct deposit. When you do this, you may receive a notification that the site may be slow due to high user demand.
- In the next window click OK on the use of the portal.
- Now, enter your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), your date of birth, address, and zip code.
If the IRS already has your information, the page will give you a status on your payment. If they do not have your information and you qualify for payment, you can enter your bank account routing number and your account number (see below for how to find these numbers) to have the government deposit your check into your bank account.
What does the IRS need in order to deposit the payment in my bank?
You will want to have your bank account and routing numbers ready. There are several ways to find this bank information.
Bank website
Your bank’s website can display your routing and account numbers. For Bank of America, for example, log in to your account, select the account you want to use, and then tap the Information & Services tab to see the numbers you need.
Bank Application
If your bank has an application, you can view your account and routing numbers there. In the Bank of America BofA application, for example, tap the account you want to use and then scroll to the bottom of the application window to see your clearly labeled account and routing numbers.
Printed check
At the bottom of a check you will probably see three sets of numbers: the first set of nine digits is your routing number. The second set of 8-12 numbers is your account number. The third set, which is not used to set up direct deposit, is your check number.
There’s still time to include your banking information with your taxes, even if you haven’t filed
The IRS said that if you have not yet filed a tax return for 2018 or 2019, you should file it as soon as possible and include your direct deposit banking information on the return.
When do I get the check?
U.S. Treasury Secretary Steven Mnuchin said that beginning April 15, more than 80 million taxpayers who have a direct deposit set up with the IRS will receive their stimulus check. And those who will just set up using Get My Payment will receive it “in the next few days. You can also request that your payment be deposited into other services such as Cash or PayPal.
Remember that you can use the Get My Payment portal to find out when you will receive your check.
For security reasons, the IRS will mail a letter about the coronavirus stimulus payment to the user’s address. The letter will be sent within 15 days after the IRS makes the payment and will provide details on how the payment was made and the steps to follow if it was not received.