If you wanna know when you can expect your stimulus check from Uncle Sam, Zack Friedman at Forbes wrapped it up in a nice little package here.
- Not everyone gets a check, but most Americans will get some money. The stimulus check amount phases out by $5 for every $100 above certain income levels based on your tax filing status. See those levels in Zack’s article.
- If you included direct deposit when filing your taxes, you will get your stimulus check via direct deposit starting this week. Otherwise, the IRS will start mailing paper checks starting April 24th. For those of you who did not include direct deposit on your tax return, on April 17th, the IRS will release a new online tool called “Get My Payment”. This will enable you to input your direct deposit bank account information to get your stimulus check faster.
- You do not have to pay income tax on your stimulus check.
- If you owe back taxes, the IRS will not snag your stimulus check to pay what you owe.