5/6/20 Update: IRS extends some payment deadlines
Many people have received stimulus checks over the last couple of weeks but there are still lots of people in the country who are waiting for funds to arrive.
Many of these people are eligible for supplemental security income or veterans benefits. A few weeks ago, it was announced that these individuals would receive their stimulus checks in “early May.”
But early May has come and many of these people still have not received any funds.
Well, there is an update and now they are expected to receive their funds by no later than mid May.
A postponement of a week or two may not sound that bad but to those who are relying on these funds for survival, and extra 7 to 14 days could be extremely detrimental.xpress card And you can’t blame a lot of these people because they were previously told that they would receive funds in early May.
So if you fall into this category, try to si tight and hopefully your payments were arrive very soon via Direct Express.
One final thing to note:
Direct Express states:
“Note that Direct Express cardholders who use the Non-Filers tool on IRS.gov will not receive their Economic Impact Payment on their Direct Express card account. Cardholders who use the tool may only select a bank account for direct deposit or leave bank information blank to receive their Economic Impact Payment by mail.”
4/25/20 Update: IRS offers more payment deadlines
The IRS made some updates to its payment portal over the weekend.
Some of these fixes included resolving technical issues like allowing individuals to enter in zero for their income and to view payment status for closed bank accounts.
Also, they have provided more access for taxpayers who filed in 2018 but did not use direct deposit for a refund.
But we also have more details about when people can expect payments and also when to expect your estimated payment date to show up.
Social Security, survivor, and disability non-filers
Social Security, survivor, and disability non-filers will receive payments no later than May 5 in their bank accounts.
Social Security and Railroad Retirement recipients should be able to access Get My Payment to check the status of their payments but they won’t be able to add direct deposit information. That is because the IRS is going to use information from the Form SSA-1099 or Form RRB-1099 (and send funds the same way you receive your benefit).
SSI non-filers should start seeing payments in early May.
Veterans benefit recipients
Veterans benefit recipients should start seeing payments in early May.
SSI or Veterans Affairs benefits who didn’t file a tax return for 2018 or 2019
If you received SSI or Veterans Affairs benefits and did not file a tax return for 2018 or 2019 you will have until May 5 to use the non-filer tool on the IRS website to receive the $500 payment per dependent child under 17. (This deadline is only applicable to SSI and VA beneficiaries who need to notify the IRS about their eligible dependents.)
Viewing payment date
This was a big update that should clarify things for a lot of people who are worried about their payment status.
If you enter your bank information before noon on Tuesday, your payment date will be available beginning the following Saturday. But if you wait until after the Tuesday deadline, you will have to wait an additional week to receive your payment date.
But note that if your payment has already been processed you should get a check in up to 14 days. If you are interested in checking out the dates scheduled for checks to go out just scroll below. But note that there are reports of people receiving checks out of order.
4/25/20 Original article:
After a very rocky start, the IRS stimulus checks have finally been going out to the masses.
In fact, new IRS data shows exactly how many stimulus checks have gone out and how much in funds have been sent. According to the IRS, they have paid out over 88 million stimulus checks worth a total of $157,969,767,489.
That is over half the amount of the funds that were allocated for stimulus checks so it would follow that over half of eligible Americans have received their stimulus checks.
But we still know that a lot of people have not seen their funds yet, and if they have not signed up for direct deposit they may not be seeing their checks for several more weeks or even months. The order depends on your income and it’s broken down as follows:
- Under $10,000: April 24
- $10,001 – $20,000: May 1
- $20,001 – $30,000: May 8
- $30,001 – $40,000: May 15
- $40,001 – $50,000: May 22
- $50,001 – $60,000: May 29
- $60,001 – $70,000: June 5
- $70,001 – $80,000: June 12
- $80,001 – $90,000: June 19
- $90,001 – $100,000: June 26
- $100,001 – $110,000: July 3
- $110,001 – $120,000: July 10
- $120,001 – $130,000: July 17
- $130,001- $140,000: July 24
- $140,001 – $150,000: July 31
- $150,001 – $160,000: August 7
- $160,001 – $170,000: August 14
- $170,001 – $180,000: August 21
- $180,001 – $190,000: August 28
- $190,001 – $198,000: September 4
- All Remaining checks: September 11
Therefore, If you currently are not signed up for direct deposit, I highly recommend for those individuals to sign up for direct deposit and they can find out how to do that here.
The IRS also released data on which states have received their payments as you can tell in the chart below.
California residents have received received the most — 9.1 million payments totaling over $15 million. Meanwhile, Texas is second with 7.8 million payments received and $14.4 billion worth of payments.
As you would expect, the list roughly follows the order of the most populated states in the country but not exactly.
Economic Impact Payments as of April 17, totals by state.
|State||Number of EIP Payments||Total Amount of EIP Payments|
|District of Columbia||179,738||$ 255,501,803|
|North Carolina||2,774,379||$ 5,057,006,091|
|North Dakota||215,321||$ 399,771,434|
|New Hampshire||407,786||$ 714,166,522|
|New Jersey||2,245,299||$ 3,861,741,262|
|New Mexico||596,433||$ 1,072,887,126|
|New York||5,481,796||$ 9,283,821,196|
|Rhode Island||319,156||$ 541,849,017|
|South Carolina||1,361,971||$ 2,489,898,415|
|South Dakota||255,301||$ 487,326,070|
|West Virginia||522,573||$ 984,826,539|
|Territories and Overseas*||267,573||$ 501,071,680.00|
Over 150 million payments will be sent out so I believe the IRS has already sent out over half of the payments that will go out. The bill was signed into law March 27 so in less than one month over half of eligible citizens received their payments.
While I think they absolutely botched the launch of their website and caused a lot of undue stress and worry to many Americans, I do think that they have done a decent job of getting out these funds in a relatively quick way. (It could have been a lot worse.)
The thing is, there are still millions and millions of Americans who need stimulus checks and those who will be relying on paper checks might be underbanked and the most in need. So we will see if the above schedule is abided by.
I still think that the government needs to move to a new and improved system so that future payments can be streamlined. I really like the idea of having a fedaccount and debit card for every individual, although that would take considerable time to develop the infrastructure for, especially since we are talking about the federal government here.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time travel expert covering destinations along with TSA, airline, and hotel policies. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.