IRS Tells You How To Get Your Stimulus Check The Fastest
In response to the economic impacts of COVID-19 across the United States, the Federal Government has put an economic stimulus package together. The legislation was signed by President Donald Trump, and is being rolled out now.
This week, the IRS started to explain more about how citizens will be able to get their stimulus cash. NBC News reports that the IRS has some advice on how to speed up your stimulus money...
"For Americans eligible for stimulus cash under the new relief law, the fastest way to receive it is to make sure they've filed a tax return for 2019 or 2018 with bank information so the government can directly deposit the money."
The new information says that the IRS plans to use a 2019 Tax Return first to calculate eligibility and how much an eligible citizen/household would get. They would then automatically distribute the cash to those who qualify.
Meaning the best way to ensure the fastest possible payment is to make sure your 2019 taxes are filed, and that your most up-to-date banking information is set up for your direct deposit.
Treasury Secretary Steven Mnuchin has said payments can be expected within the next three weeks, though specifics on the timeline have not been clarified.
MORE TO EXPLORE: See the the COVID-19 stimulus bill broken down by the numbers