Last week, Congress passed a $1.9 trillion COVID-19 relief bill that is set to deliver $1,400 stimulus checks to many Americans.
While many are waiting for their third stimulus check, there's good news - the IRS began sending and depositing them on March 12, according to CNBC.
You can now track the status of your money on the Internal Revenue Service’s (IRS) website. Taxpayers can use the IRS’s Get My Payment tool. The tool is free to use.
If you have a direct deposit account set up with the IRS, you will receive your stimulus check first. After those payments get sent out, the IRS will mail checks and pre-paid debit cards to those who qualify. The Get My Payment tool will tell Americans what kind of payment that they will be receiving.
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The passed bill includes direct payments of $1,400 to individuals earning less than $75,000 and couples earning less than $150,000. Additionally, it would extend unemployment benefits, expand the Affordable Care Act, provide money for COVID vaccines and testing, and send funds to schools, states, cities, and other struggling industries.
The timing of when you file your taxes could determine whether you qualify for a check or not.
With the Internal Revenue Service already accepting last year’s tax returns and doing so until April 15, the passage of a new relief bill could land squarely in the middle of the filing season. The IRS will base the check on the 2019 or 2020 tax return, whichever is currently on file.
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If you’re married and filing jointly, you have to make $150,000 or under in combined household income to qualify.
However, if your status with the IRS is a “nonresident alien,” you don’t qualify for a third stimulus check. This is described as someone who “has not passed the green card test or the substantial presence test.”
Issues that arise with receiving your third check will be resolved during the 2022 tax season.
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