The first batch of the $ 1,400 incentive vouchers will ship this weekend. But according to the Internal Revenue Service, some residents will not receive their check until next week.
This comes after the $ 1.9 trillion COVID-19 aid package received final approval from President Joe Biden on Thursday. The funds are intended to help the US fight the coronavirus pandemic and ease the added pressure on the country’s economy.
As of Saturday, the first round of stimulus checks have already been sent, but it is unclear exactly how many Americans will receive them.
If you don’t receive your check this weekend, you can receive it next week, according to the IRS, either by auto-deposit or by mail as a check or prepaid debit card. The vast majority are sent via direct deposit.
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In addition to incentive checks, the aid package also extends $ 300 weekly emergency unemployment benefits through early September and will also extend tax credits for children, childcare and family leave over the next year, according to a report from the Associated Press.
In the meantime, while waiting to receive your stimulus check by mail, do the following:
Beginning Monday, March 15, the IRS is launching its “Get My Payment” website, allowing residents to track the status of their stimulus check.
As of Saturday, according to the website, the IRS has been reviewing the tax provisions of the COVID-19 relief package.
People are urged not to call the IRS about their stimulus checks. Once the site launches on Monday, you should be able to track when you can receive your check.
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You can visit the website here.
Your incentive check is calculated according to the IRS based on your 2019 or 2020 tax return, whichever you completed last.
In other words, if the IRS has already received your 2020 tax return, your third stimulus check will be based on that.
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 instead make the calculation based on that return, ”the IRS said in a statement.
If your income fell in 2020, it is likely that your stimulus check will be greater as a result, according to a report from CNBC.
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This third round of incentive checks will be “bigger for most people,” the IRS said, as most families will receive $ 1,400 per person, including all dependents listed on their tax returns.
“Typically, this means that a single person with no dependents gets $ 1,400, while a family of four (married couple with two dependents) gets $ 5,600,” the IRS said.
You can read more about filing taxes on the IRS website.
There are millions of incentive checks scattered all over the country.
With this in mind, just remember that patience is key.
The IRS said the payments will be automatic and you don’t need to take any action to make sure your stimulus check arrives.
If you feel restless on Monday and still haven’t received your check, don’t forget that you can also use the Get My Payment tool.
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If you are still unsure whether you qualify for a stimulus check, here’s what you should know:
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The incentive checks are up to $ 1,400 per person and depending.
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Single filers who earn an adjusted gross income of up to $ 75,000, and with householders who earn up to $ 112,500, will receive $ 1,400, according to a CNBC report.
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Married couples who earn up to $ 150,000 qualify for $ 2,800, according to CNBC. Those 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 for an incentive payment.
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The distributions will also be based on 2020 AGI if a resident has already filed tax returns for last year. If not, payments will be based on 2019 income, according to CNBC.
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Payments are again sent via 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 in the mail.
The president will further discuss the COVID-19 aid package and what can be expected in this next phase of the national fight against the pandemic at 7 p.m. on Thursday during his speech. You can watch Biden’s speech here.
RELATED: President Joe Biden signs $ 1.9T bill ahead of primetime address
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