Coronavirus pandemic has closed down everything as the whole world is under lockdown and it is getting harder to survive without any source of money. It is why the IRS has decided to give coronavirus stimulation checks worth $1,200 to more than 80 million Americans.
It is declared that around 83 percent of the taxpayers will be qualified to receive an economic impact payment during the coronavirus outbreak. Most of the people are wondering when will they get their share of stimulus check and when will the money get deposited in their bank accounts, here are the answers to all your questions.
When will You Receive the Stimulus Check?
Every single US resident whose gross income is less than $99,000, household head income is less than $146,500 and joint income without children is under $198,000, will be able to get the Coronavirus stimulus check. For those who have paid the federal taxes for 2018 will be eligible to receive the sum of $1,200 as a means to survive in the lockdown.
The Treasury Secretary has said that the government has processed payments last week and more than 80 million Americans who have set up direct deposit with IRS will receive the stimulus money by Wednesday, April 15. For those who have not set up direct deposit with IRS, it might take a bit longer and they should complete the procedures without any kind of delay.
When will the Stimulus Check Money get Deposited in Your Bank Account?
Every US resident eligible for the coronavirus stimulus check will receive the check in their mail or electronically. It can be then transferred into your bank accounts and cash can also be taken out via an ATM debit card of a self-check.
For those who have not received the payment, they can write in a complaint to the IRS and follow the procedures mentioned on their website. The stimulus check for coronavirus is for ensuring that the poor and needy are able to survive during the lockdown without any issues.