Through Economic Impact Payments and other means, the Treasury Department is ensuring that Americans receive fast and direct relief in the wake of the coronavirus pandemic.
The CARES Act provides for Economic Impact Payments to American households of up to $1,200 per adult for individuals whose income was less than $99,000 ( or $198,000 for joint filers) and $500 per child under 17 years old – or up to $3,400 for a family of four.
Additionally, the IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.
Treasury is launching a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.
Be sure to check this space as well as irs.gov/coronavirus for continuous updates.
Economic Impact Payments: What you need to know
We are committed to helping you get your Economic Impact Payment as soon as possible. Filers and non-filers click here to check your payment status or provide additional information.
Get Your Money: Economic Impact Payments for Social Security Recipients
Get Your Money: Economic Impact Payments for Non-Filers