The Internal Revenue Service (IRS) said the window for sending it one’s bank account information to get a stimulus payment is closing.
The agency said that now, people will have until noon on Wednesday, May 13, to submit information to receive a payment up to $1,200 via the IRS “Get My Payment” website. After that deadline, the federal government will begin doling out millions of more checks to people during the CCP (Chinese Communist Party) virus pandemic.
“We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information,” IRS Commissioner Chuck Rettig wrote in a statement on Friday. “Time is running out for a chance to get these payments several weeks earlier through direct deposit.”
The agency, after the deadline passes on Wednesday, “will begin preparing millions of files to send to BFS for paper checks that will begin arriving through late May and into June,” and “taxpayers who use Get My Payment before that cut-off can still take advantage of entering direct deposit information,” according to the website.
Congress authorized payments of up to $1,200 per person and $2,400 for married couples, plus an additional $500 for children under 17 to help Americans during the pandemic. Those who earn more than $75,000 or $150,000 for individuals and couples, respectively, will see lower payments.
The Get My Payment tool can also be used to check on the status of one’s stimulus check, which is updated every 24 hours.
The Treasury Department also announced on Friday that around 130 million payments totaling about $218 billion have been sent out to Americans. In all, the federal government expects to send around 150 million payments.
Earlier this week, the IRS, in an update on its website, said that incarcerated individuals are not eligible for stimulus payments.
“A payment made to someone who is incarcerated should be returned to the IRS,” the agency wrote on its website, adding that such individuals do not qualify. “For a Payment made with respect to a joint return where only one spouse is incarcerated, you only need to return the portion of the Payment made on account of the incarcerated spouse,” said the IRS.
The agency did not mention payments for children of incarcerated people.
In addition, the IRS said in its updated question-and-answer section that payments should be returned if they were made to someone who died before the payment was issued. It falls in line with remarks that were made by Treasury Secretary Steven Mnuchin, who told the Wall Street Journal those payments should be sent back to the IRS.