The first batch of the $1,400 stimulus checks are being sent out this weekend. But, some residents may not receive their check until next week, according to the Internal Revenue Service.
This comes after the $1.9 trillion COVID-19 relief package received the final seal of approval from President Joe Biden on Thursday. The funds aim to help the U.S. combat the coronavirus pandemic and help alleviate the added stress put on the nation’s economy.
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As of Saturday, the first round of stimulus checks were already being sent out, but it’s unclear exactly how many Americans will receive them.
If you don’t receive your check this weekend, you may receive it next week, either through direct deposit or through the mail as a check or a prepaid debit card, according to the IRS. The vast majority will be sent via direct deposit.
In addition to the stimulus checks, the relief package also extends $300 weekly emergency unemployment benefits into early September and will also expand tax credits over the next year for children, child care and family leave, according to a report from the Associated Press.
While you’re waiting to receive your stimulus check in the mail, here’s what you can do in the meantime:
Track your stimulus payment online
The IRS has launched its “Get My Payment” website so residents can track the status of their stimulus check.
All you’ll need to do is visit the website, add in your information and the IRS will tell you when you can expect to receive your payment.
Residents are urged not to call the IRS about their stimulus checks.
You can visit the website here.
Don’t forget to file your 2020 tax return
Your stimulus check will be calculated on your 2019 or 2020 tax return, whichever one you’ve most recently completed, according to the IRS.
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 at IRS.gov using the agency’s Non-Filers tool last year, or alternatively, submitted a special simplified tax return to 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 dropped in 2020, it’s likely your stimulus check will be larger as a result, according to a report from CNBC.
This third round of stimulus checks will be “larger for most people,” the IRS said, as most families will receive $1,400 per person, including all dependents claimed on their tax returns.
“Typically, this means a single person with no dependents will get $1,400, while a family of four (married couple with two dependents) will get $5,600,” the IRS said.
You can learn more about filing taxes on the IRS’ website.
Just wait it out, be patient
There are millions of stimulus checks in the process of being distributed across the nation.
With this in mind, just remember that patience is key.
The IRS said the payments will be automatic and that you won’t need to take any action to ensure your stimulus check arrives.
If you’re feeling antsy, don’t forget that you can also use the Get My Payment tool.