The IRS is set to launch a tool that will enable US taxpayers to track their stimulus payments and update their direct deposit information in the coming days.
With the first stimulus checks, also known as economic impact payments, intended to jumpstart the US economy having been sent out to taxpayers over the weekend, the IRS will be launching a tool this week called "Get My Payment," which is expected to be available by Friday, April 17, according to a report by CNBC.
Get My Payment is a tracking tool that will not only allow check recipients to follow the status of their funds but will also let people update their deposit information directly with the IRS. The IRS is also launching an online "non-filer" tool "allowing quick registration for Economic Impact Payments for those who don't normally file a tax return... including those with too little income to file."
Those without direct deposit of any kind or who choose to have the money sent as a physical check by postal mail aren't expected to have this payment sent out until May.
As general rules of thumb, adults making under $75,000 per year will get $1,200 each, whereas couples who together earn less than $150,000 per year will get $2,400.
According to the IRS, the first wave of payments -- which make up part of the US federal government's $2.2 trillion relief bill created to support Americans struggling with the financial consequences of the COVID-19 outbreak -- went out to taxpayers over this weekend; the rest will be getting their share over upcoming weeks.