April 16, 2021

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Stimulus check update: Payments will start to hit bank accounts this weekend, IRS says – NJ.com

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The first batch of stimulus payments from the $1.9 trillion coronavirus relief plan will be sent by direct deposit as early as this weekend, the IRS said late Friday.

The agency said even more Americans will receive their payments over the next week.

“Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card.,” the IRS said. “The vast majority of these payments will be by direct deposit.”

The agency said no action needs to be taken by most taxpayers to get the payments.

“The payments will be automatic and, in many cases, similar to how people received the first and second round of Economic Impact Payments in 2020,” it said. “People can check the `Get My Payment’ tool on IRS.gov on Monday to see the payment status of the third stimulus payment.”

IRS Commissioner Chuck Rettig said in a statement that even though tax season is in full swing, IRS employees are working around the clock to deliver the stimulus payments.

The agency said most people will get $1,400 and $1,400 for each of their qualifying dependents claimed on their tax return.

“Because these payments are automatic for most eligible people, contacting either financial institutions or the IRS on payment timing will not speed up their arrival,” the IRS said. “Social Security and other federal beneficiaries will generally receive this third payment the same way as their regular benefits. A payment date for this group will be announced shortly.”

The payments will be based on either a taxpayer’s 2020 or 2019 tax return, the agency said, and it will include people who used the IRS’ Non-Filers tool for other stimulus payments in 2020.

The IRS noted that the payments cannot be offset to pay various past-due federal debts or back taxes, but they can be garnished for some private debts.

Use our calculator to see how much you may get in this round of stimulus payments.

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Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com.

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