Hey, where’s my stimulus check?
Remember when President Donald Trump signed the $2 trillion Coronavirus Aid, Relief and Economic Security Act on March 27?
And remember when the CARES Act was supposed to provide economic impact payments — also known as stimulus checks — to American households?
If you haven’t gotten that payment, it might still be coming.
At the beginning of the month, 159 million payments had been delivered. Approximately 30-35 million payments had yet to be issued.
U.S. citizens and U.S. resident aliens are eligible to receive an EIP of $1,200 or $2,400 if they are a married couple who filed their tax return jointly with adjusted gross income up to $150,000 for married couples filing jointly, $112,500 for head of household filers and $75,000 for all other eligible individuals.
Stimulus payments also provide $500 for each qualifying child under the age of 17.
Eligible retirees, veterans and some others will also get an automatic payment.
Taxpayers will receive a 5% reduction in their payment for the amount their AGI is above these amounts. Single filers with income exceeding $99,000, $136,500 for head of household filers and $198,000 for joint filers with no children are not eligible and will not receive payments.
Recipients cannot be a dependent of another taxpayer, and they must have a work eligible Social Security number. If spouses file jointly, both spouses must have valid SSNs to receive the EIP, unless either spouse is a member of the U.S. Armed Forces at any time during the taxable year.
People who have little or no income and didn’t file a tax return may still be eligible to receive a payment. They should fill out the form at www.irs.gov/coronavirus/non-filers-enter-payment-info-here.
Eligible taxpayers who filed tax returns for 2019 or 2018 should receive their EIP automatically. No action is needed because payment information will be taken from their federal tax return. If you are a first-time filer, it may take some time to get your payment due to a backlog in tax returns.
If you received direct deposit on your last tax return, the IRS has sent the EIP to the bank account provided. If the account is no longer active, the bank will return the deposit, and you will be issued a payment by mail.
If you did not receive your tax refund by direct deposit, the EIP will be mailed to the address the IRS has on file.
For security reasons, the IRS will mail a letter about the EIP to the taxpayer’s last known address within 15 days after the payment is paid.
Please note that while some people have received checks in the mail, others have received prepaid debit cards.
The EIP card will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the card; the back of the card has the name of the issuing bank, MetaBank®, N.A.
To activate the card, call 800-240-8100 and provide information such as the card number, the last six digits of your SSN, the three-digit code on the back and a four-digit pin number of your choice.
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