The $1.9 trillion coronavirus relief bill that President Biden signed featured a new round of stimulus checks. Here’s what you need to know.
It Could Take Some Time
The stimulus checks have started arriving for those who have direct deposit. However, if you’re receiving the payment via the mail or on a debit card, it could take several weeks.
How much you get from a stimulus check depends on your income. Individuals who have an adjusted gross income (AGI) below $75,000 will receive $1,400. Married couples who have an AGI under $150,000 will receive $2,800.
As CNet reports, the coronavirus bill expanded the qualifications for dependents, which means more people are eligible for a $1,400 check. The previous checks only included dependents age 16 and under. This new round allows any dependent to receive a stimulus check.
Another factor in calculating your stimulus checks is your tax return. The IRS will process your check according to the most recent filing when your name comes up. That means if you filed your 2020 forms early, your payment could be tied to 2019 forms instead.
Patience is Key
Remember to try and be as patient as possible. It takes time to send out more than 100 million payments. Things can, and do, go wrong. If you don’t receive your check within roughly four weeks, contact the IRS via this site.