IRS COVID-19 Stimulus Check Tracking Tool
Millions of Americans have been patiently awaiting the arrival of their stimulus checks from the federal government. Apart of the $2.2 trillion dollar COVID-19 Aid, Relief, and Economic Security (CARES) Act, stimulus funds have been allocated to benefit individuals suffering from the disruptions of the economic downturn.
The Treasury Department has already initiated the first round of cash injections via direct deposit. The first round of stimulus packages was sent to over 80 million households with bank account information on file from their 2018 or 2019 tax returns.
The IRS launched a tool called ‘Get My Payment’ to help individuals track their expected payments. By providing bank account information, individuals can accelerate the process and get their payments faster electronically. The government is sending a $1200 check per adult plus an additional $500 per every child claimed under the age of 17. The amount shrinks per individuals with an income above $75,000 and married couples with a combined income of $150,000 or more. Payments are collected by individuals with social security numbers and individuals above 16 who are claimed as dependents are not eligible to receive the stimulus package.
The ‘Get My Payment’ tool provides individuals with the status of their payments including the date payments are scheduled to be deposited. After providing basic personal information, the tool will inform individuals how and when they will receive their stimulus payments. Due to high demand, users have been asked to wait longer than anticipated to visit the site. The IRS has reported more than 6.2 million Americans have checked the status of their stimulus payments and more than 1 million Americans have provided their banking information.
‘More than 80 million Americans have received payment since they started flowing last weekend’, Treasury Secretary Steven Mnuchin said in announcing the launch of the portal.