Misinformation is swirling around the internet regarding the IRS stimulus checks. These stimulus checks are officially called Economic Impact Payments.
Here are some quick answers to the most searched questions. Please visit for all the details: https://www.irs.gov/coronavirus/economic-impact-payment-information-center
Who is eligible for stimulus checks?
U.S. citizens or resident aliens who:
- Have a valid Social Security number,
- Could not be claimed as a dependent of another taxpayer, and
- Had adjusted gross income under certain limits. (See below for "Income Limits Explained")
Do You Need to File Anything?
Most eligible U.S. taxpayers will automatically receive their Economic Impact Payments.
For example, automatic payments will occur for:
- Individuals who filed a federal income tax for 2018 or 2019
- Individuals who receive Social Security retirement, disability (SSDI), or survivor benefits
- Individuals who receive Railroad Retirement benefits
Income Limits Explained
Remember, this is for U.S. residents with social security number, not claimed as a dependent, with adjusted gross income up to:
- $75,000 for individuals
- $112,500 for head of household filers and
- $150,000 for married couples filing joint returns
Taxpayers will receive a reduced payment if their adjusted gross income is 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
Where will the IRS Send my Money?
- The payment will be deposited directly into the same banking account reflected on the return filed for 2018/2019 taxes.
When will I get My Money?
Keep an eye on your bank account, the money may be deposited as early as the week of April 13th. The government is prioritizing the first few waves of payments in the coming weeks toward low-income Americans and Social Security beneficiaries. Mid-April, there will also be a service online called "Get My Payment" which will help you track your check. (Click here)
For more info, please visit the IRS sites directly: https://www.irs.gov/coronavirus/economic-impact-payment-information-center