Economic stimulus checks are being prepared for printing at the May Philadelphia Financial Center in Philadelphia, Pennsylvania.
Jeff Fusco | Getty Images
A second batch of $ 1,400 stimulus checks is scheduled to land in people’s bank accounts on Wednesday, March 24th.
These checks began processing Friday and may be available in some accounts even earlier, according to the Treasury Department, the IRS and the Tax Service Office, which announced the payments Monday.
The latest batch also includes a “large number” of paper checks sent by mail and prepaid debit cards, according to agencies.
People who do not receive any payment by March 24 by direct deposit should be pending a mail payment in the coming weeks.
Agencies did not specify how many checks are included in this second round of disbursement. The first round included about 90 million payments totaling more than $ 242 billion.
“The IRS continues to send the third round of stimulus payments in record time,” IRS Commissioner Chuck Rettig said in a statement.
This new round of stimulus checks was authorized by Congress and President Joe Biden earlier this month.
Payments include up to $ 1,400 per person, plus $ 1,400 per child and dependent adult.
Like the previous tests, you must meet certain criteria in order to qualify.
Individuals with adjusted gross incomes of up to $ 75,000 will receive a full payment, as well as heads of households up to $ 112,500 and married couples who jointly file up to $ 150,000.
This time, those payments are cleared up faster and are limited to $ 80,000 for individuals, $ 120,000 for heads of households, and $ 160,000 for married couples.
If you expect a payment, you generally don’t need to do anything to get the money, the agencies said.
The IRS Get My Payment tool is available to check the status of payments.
Those who will get the money automatically include those who have their information filed with the government through previous tax returns or who used the IRS tool they did not apply for last year. People who receive federal benefits, such as Social Security, Supplemental Security Income, or Veterans Affairs, also plan to get the money automatically.
People who do not normally file tax returns and who do not have their information registered with the government are encouraged to file a tax return by 2020 to claim payment. The IRS website provides more information on how to file federal tax returns for free.