Stimulus checks: People who don't file taxes can now give direct deposit info to Treasury
Americans who aren't required to file taxes and are concerned about getting their government stimulus check quickly can now visit a new web portal set up by the Treasury Department and Internal Revenue Service that lets people enter their bank direct-deposit information. The federal payments — $1,200 for most taxpayers who earn less than $75,000 annually — are expected to hit bank accounts early next week.
The portal — available here — is free to use and is designed for people who haven't filed their taxes in 2018 or 2019, which means they haven't provided their bank account information to the IRS. The agency plans to first send the money to Americans via direct deposit, while others may face a wait of weeks or even months for paper checks to arrive in the mail.
The IRS plans to launch another site later this month for taxpayers who filed their tax returns in 2018 or 2019 but didn't provide their banking information on their return, the agency said Friday.
"The 'Non-Filers: Enter Payment Info Here' web portal is a tool for Americans who are not required to file tax returns to make sure they receive their payment as quickly and safely as possible," Treasury Secretary Steven Mnuchin said in a statement.
The stimulus payments are part of a $2.2 trillion federal relief package aimed at offering Americans financial support as the coronavirus shutters businesses across the country. With economic growth in free fall, nearly 17 million workers have lost their jobs over the last month.
The Treasury Department said earlier this month that Americans on Social Security will not be required to file a "simple tax return" to receive a stimulus check from the U.S. government. The announcement reversed an earlier statement from the Internal Revenue Service that participants in the federal retirement program would need to file such a return to get the funds.
About 15 million people, including millions of seniors on Social Security, aren't required to file tax returns.
Most Americans don't need to do anything to receive a stimulus payment because the IRS is relying on 2018 and 2019 tax returns to find household income — which determines how much people receive — and direct-deposit information for bank accounts.