Here Is The Key To Getting Your $1,400 Payment As Soon As Possible
“The check’s in the mail direct deposit,” say the IRS and Treasury Department, who have already begun dispersing the $1,400 direct payments from the Biden administration’s landmark $1.9 trillion COVID-relief bill.
If you haven’t yet gotten your payment, it is likely soon on the way. However, here is what you can take to greatly speed up the process.
File your 2020 tax return
Your eligibility and payment amount will be based on your most recent tax return, be it 2019 or 2020. That’s very important because if your income dropped last year, you may be eligible for more relief.
Filing now will also allow you to update your direct deposit information, if necessary.
Patience is key.
The IRS is set to distribute an estimated 159 COVID relief payments in this latest $1.9 trillion package. That includes up to $1,400 to individuals and $2,800 per married couple, with an additional $1,400 per dependent.
Most people will automatically receive payments, according to the IRS.
That includes people who don’t normally file tax returns, used the non-filer tool for the 2020 stimulus payments or submitted special, simplified tax returns.
The IRS does not plan to bring back the non-filer tool, it says, so take care of your return yourself and you’ll help jumpstart the process.