Deadline to Sign Up for Stimulus Money Direct Deposit Is Tomorrow — Here’s What You Should Know
Not submitting your information means you'll get your check in the mail as late as June
For those still waiting on a government stimulus check, the clock is ticking when it comes to receiving that money via direct deposit.
The IRS announced Friday that eligible taxpayers have until 12 p.m. on Wednesday, May 13 to submit their direct deposit information to the Get My Payment website if they don’t want to receive their check via snail mail.
"We're working hard to get more payments quickly to taxpayers," IRS Commissioner Chuck Rettig said in a statement. "We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information. Time is running out for a chance to get these payments several weeks earlier through direct deposit."
If you’re eligible, missing that deadline doesn’t mean you won’t get your stimulus money — it just means it’ll come eventually in the mail, and may take a bit longer.
The IRS said that approximately 130 million people have already received payments worth more than $200 billion in the first four weeks of the program, which is a partnership with the Department of the Treasury and the Bureau of Fiscal Services.
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Starting after noon on Wednesday, the IRS will prepare millions of files to send to the Bureau of Fiscal Services for paper checks that will begin arriving through late May and into June.
Those who wish to enter their direct deposit information can do so at the Get My Payment website, which gives users an estimated date as to when their check will be deposited.
Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically, as will those receiving Social Security retirement, disability benefits, Railroad Retirement benefits, Veterans Affairs benefits or Supplemental Security Income soon.
Still, the Get My Payment website has not been without its glitches.
When it first launched, some people reported difficulty with the site, and said they experienced an error report that read “payment status not available.”
One workaround for that issue shared by social media users found that the error was solved if you typed out your address in all capital letters.
The stimulus checks are issued by the federal government to help with the financial pain caused by the ongoing coronavirus (COVID-19) pandemic, which has upended numerous businesses.
In March, the House of Representatives passed an approximately $2 trillion stimulus package which President Donald Trump signed into law. It will provide a check of $1,200 for adults with an adjusted gross income of up to $75,000 a year, according to an analysis by the office of Sen. Chuck Grassley, chairman of Senate Committee on Finance.
The more someone earns, however, the less money they will get from the government. The payment amount decreases by $5 for every $100 made above $75,000, capped for individuals with a gross income of $99,000 and above.
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