WHEN YOU WILL GET YOUR $1200 STIMULUS CHECK

TL;DR

The IRS is offering direct deposit for stimulus checks if you have filed taxes that way in the past, otherwise you may have to wait for a physical check or use an upcoming online portal to provide banking information.

Transcript

so in this video today guys we have some important updates on when people should be expecting to receive their stimulus checks we already talked about what's gonna happen if you have direct deposit set up but we also got some clarity on when direct deposit payments should start and we also heard about when the paper checks are going to be mailed ou... Read More

Key Insights

• 💨 Direct deposit is the fastest method to receive the stimulus payment.
• 😫 The IRS will be setting up an online portal for people to provide direct deposit information.
• 📁 Social security earners will be prioritized for payments, with direct deposit being automatic if they have it on file.
• 💌 Mailing physical checks could take up to 20 weeks, depending on income levels.

Questions & Answers

Q: What should I do if I have direct deposit set up for my tax refund?

If you have direct deposit set up for your tax refund, you don't need to do anything. Your stimulus check will be automatically sent via direct deposit.

Q: How can I receive my stimulus check if I don't have direct deposit information on file?

If you use paper tax filing and don't have direct deposit information on file, you will either have to wait for a physical check to be mailed to you or use the upcoming online portal to provide direct deposit information.

Q: What should I do if the bank I previously used for direct deposit is no longer active?

If the bank you previously used for direct deposit is no longer active, the IRS will send you a paper check after the direct deposit payment fails.

Q: How can I update my address for the stimulus check?

If you have changed your address since your last tax filing, you should fill out form 8822 (change of address form) to ensure your check is sent to the correct place.

Summary & Key Takeaways

• If you have previously provided direct deposit information to the IRS, you will automatically receive your stimulus check that way.

• If you use paper tax filing and don't have direct deposit information on file, you may have to wait for a physical check or use an upcoming online portal to provide direct deposit information.

• The IRS will be mailing physical checks based on income levels, with the process potentially taking up to 20 weeks.