/https://specials-images.forbesimg.com/imageserve/5ebafcee0bf7170006d69b50/0x0.jpg?w=1920&resize=1920,0&ssl=1 "Want Your Stimulus Check Quickly? Wednesday Is Deadline To Sign Up For Direct Deposit")
TOPLINE
The 20 million Americans who have yet to receive their stimulus payments have until Wednesday at noon to hand over their direct deposit information and avoid having to wait for a check in the mail.
PHILADELPHIA – MAY 8: Economic stimulus checks are prepared for printing at the Philadelphia … [+]
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KEY FACTS
The Internal Revenue Service said Friday that eligible taxpayers have until noon Wednesday to submit their direct deposit information via the agency’s “Get My Payment” tool to expedite their payment and avoid having the money sent by mail as a paper check.
Those that miss the deadline will have their files sent to the Bureau of Financial Services to get a paper check in late May or early June.
While more than 130 million Americans have received their stimulus payments, the IRS said, millions of eligible taxpayers have not because of glitches and processing delays.
Many Americans have reported receiving an error message on the “Get My Payment” tool, which the IRS said may happen for several reasons: if the taxpayer is not eligible for a payment, if they have not filed a tax return in 2018 or 2019, if they have recently filed a return, or if they are a Social Security, Railroad Retirement Board, or Veterans Affairs recipient.
Key background
Under the $2 trillion economic stimulus package passed by Congress in March, most American adults should receive a one-time direct deposit payment of $1,200 each, and $500 per child (couples will receive $2,400).
What to watch for
Whether Congress will send Americans another round of stimulus payments. Under the fourth major coronavirus stimulus bill proposed by House Democrats on Tuesday, most Americans would receive another $1,200 check, and up to $6,000 max per family.
Further reading
Still waiting for your stimulus check? You have until 12 p.m. Wednesday to give the IRS your bank information. (Washington Post)
Democrats Just Released A $3 Trillion Stimulus Wish List, Including Another Round Of $1,200 Checks (Forbes)
Her Deceased Boyfriend Received A Stimulus Check. She’s Still Waiting For Hers. (Forbes)
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