There is still time to update your bank account information with the IRS to get the $ 1,200 stimulus payment in the quickest way.
But that window of opportunity is closing, the IRS said Friday.
Taxpayers who qualify for the one-time payment have until noon on Wednesday, May 13, to update their information on the Get My Payment page if they want to receive the money directly to their accounts.
After that date, the government will send millions of checks in the mail. These would arrive from this month onwards.
“We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their information for direct deposit,” IRS Commissioner Chuck Rettig said in a statement.
Congress authorized stimulus payments of up to $ 1,200 per person and $ 2,400 for married couples, plus $ 500 for children under the age of 17, to assist families during the COVID-19 crisis. Relief payments were determined based on tax returns for 2018 or 2019.
The Get My Payment tool can also be used to check the status of your stimulus check. That information is updated once a day.
In addition to that portal, another page is available for those people who do not file tax returns. The Non-Reporting People tool enables those people to submit basic information, including their bank account number, to expedite the delivery of their stimulus payments.
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Payments will automatically be sent to people who receive government benefits through Social Security, Supplemental Security Income, Railroad Retirement, or Veterans Affairs.
The Treasury Department announced Friday that nearly $ 130 million of payments totaling the approximate total of $ 218 billion have been sent so far. The government hopes to send an additional $ 150 million in payments.
This news is a translation of the information first reported by Lorie Konish on CNBC.com, for more of CNBC Click here.