Users who want to check the status of their Economic Impact Payment now can do it online using Get My Payment, the website recently unveiled by the Internal Revenue Service (IRS).
The website will show users the date when their deposit has been scheduled, similar to the “Where’s my Refund” tool many taxpayers are already familiar with.
Besides checking the status of their payment, the website allows users to confirm their payment type, and enter their direct deposit information if the IRS doesn’t have it.
The website is updated daily, usually overnight. Therefore, IRS encourages users to visit the website only once a day. This will decrease traffic and allow other users to check the status of their payments as well.
Economic Impact Payments are sent directly to taxpayers using information included in their past tax filings. If you haven’t filed your taxes for 2019 or 2018, then you can use this website to communicate your direct deposit details to the IRS.
What Are Economic Impact Payments?
Economic Impact Payments are a stimulus rolled out by the IRS and the Treasury Department to offer financial relief to taxpayers who have been affected by the outbreak of coronavirus.
Eligible individuals can get up to $1,200, while married couples filing jointly can receive up to $2,400. In addition, they’re eligible for an additional $500 per qualifying child.
Taxpayers who qualify for Economic Impact Payments have an Adjusted Gross Income (AGI) up to:
- $75,000 for individuals
- $112,500 for head of household filers and
- $150,000 for married couples filing joint returns
However, you can get a reduced Economic Impact Payment if you have an AGI between:
- $75,000 and $99,000 if their filing status was single or married filing separately
- 112,500 and $136,500 for head of household
- $150,000 and $198,000 if their filing status was married filing jointly
The amount of the reduced payment will be based upon your specific adjusted gross income.
You can find more detailed information about Economic Impact Payments on the official IRS website, Don’t forget to follow our blog for more topics related to the coronavirus outbreak, from tax relief efforts to tax scams.
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