The COVID-19 pandemic continues to cause uncertainty around the world, leaving many people reeling from its economic consequences. But, hope is on the horizon with the recently-passed stimulus bill. One of the key highlights of the stimulus package is the latest round of government-issued stimulus checks, which aim to bolster the economy by providing some relief to those hit the hardest by the pandemic.
If you’re curious about the latest stimulus checks information, you’re in the right place. In this essential guide, we’ll cover everything you need to know about these payments.
Who is Eligible?
A key feature of the latest stimulus checks is that the eligibility criteria have been expanded to cover more Americans. Single adults who earn up to $75,000, heads of households who earn up to $112,500, and married couples who earn up to $150,000 are eligible to receive the full payment of $1,400 per person. Above these thresholds, the payments phase out until they cut off completely at $80,000 for singles, $120,000 for heads of households, and $160,000 for couples.
Additionally, those who have filed taxes as independent contractors or have not filed taxes at all can receive stimulus payments. This includes Social Security beneficiaries, Supplemental Security Income receivers, and Veterans Affairs beneficiaries.
How Will Payments Be Sent?
For those who have recently filed their tax returns and provided a direct deposit option, payments will be received via direct deposit. Those without a direct deposit option, or those who have closed their bank accounts, will receive a paper check or send a debit card in the mail.
How Can I Track My Payment?
The IRS has launched an online portal, aptly named “Get My Payment,” that allows Americans to check the status of their stimulus check and track when it’s expected to arrive. This online tool is straightforward, easy to use, and gives you real-time updates on the status of your payment.
When Will They Be Sent?
The IRS began distributing the stimulus checks on March 12th, with some people receiving funds that same weekend. For those who didn’t get their payments, the IRS continues to process and distribute stimulus payments on a rolling basis.
What Can I Do if I Don’t Receive My Payment?
If you don’t receive your payment by the expected arrival time, don’t panic. The first step is to use the “Get My Payment” tool to track the status of your payment. If that proves unsuccessful, you may get in touch with the IRS via phone or mail and request assistance.
Key Takeaway
Stimulus checks are a crucial part of the latest stimulus package and aim to provide much-needed financial support to Americans during the pandemic. With the expanded eligibility criteria and easy-to-use online tools, accessing these funds has never been easier. If you haven’t received your payment yet, visit the IRS “Get My Payment” portal or contact the IRS directly. We hope this guide proves useful to you in navigating the latest stimulus checks information and accessing the relief that you’re entitled to.
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