- The third financial aid check was approved last week and people are now wondering when it will arrive.
- The Treasury Department and the IRS reported through a statement that they had already issued 90 million payments of the American Rescue Plan
- Did you give the IRS your banking information? If your answer is ‘YES’, you are in this group, therefore your payment must have already arrived
The third financial aid check was approved last week and people are now wondering when it will arrive. Some citizens have been ‘lucky’ and already have the $ 1,400 aid in their pockets, while others continue to wait. That is why we share with you the possible dates when you will receive the aid.
At the end of last week, the Treasury Department and the Internal rents service (IRS) reported through a statement they had already issued 90 million American Rescue Plan payments. However, they still have work to do, as “as announced last week, economic impact payments are being phased out to millions of Americans in the coming weeks.”
Third financial aid check and possible dates it will arrive
According to the agency, “the first part of payments was sent mainly by direct deposit, which some beneficiaries began receiving last weekend.” Although even if they had received it in their accounts, people actually had access to the funds from the past Wednesday March 17. That is why they noticed messages like “pending payments” or “provisional payments”.
In this first stage of payments, which began processing on March 12, the IRS sent approximately 90 million payments, representing more than $ 242 billion in financial aid checks.
Direct deposits of the third check
The IRS indicated that in the first stage most of the payments were through direct deposit, the fastest mechanism. “The first shipment of payments was primarily to eligible taxpayers who provided direct deposit information on their 2019 or 2020 returns, including people who don’t normally file a return but who successfully used the Non-Filers tool on IRS.gov last year. ”, They explained.
Did you give the IRS your banking information? If your answer is ‘YES’, you are in this group, therefore your payment must have already arrived. If not, check with your bank. Due date for direct deposits: already delivered or in the next few days.
Cash checks for $ 1,400
Although most of the payments were through direct deposit, the IRS confirmed that they also issued a first batch of paper checks. “The Treasury mailed approximately 150,000 checks worth approximately $ 442 million,” they stated.
Didn’t you give the IRS your banking information? If you didn’t, you are in this group. This means that the IRS will send you a physical payment, which could be a paper check or a prepaid card. If you find yourself in this first batch of $ 150,000 your payment would be arriving in your mailbox in about two weeks. Otherwise you could receive your check even until May. Delivery date for physical checks and cards: From March 31 onwards.
When will I receive my payment?
The IRS explained that their work continues and that “additional payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card. The vast majority of all economic impact payments will be issued by direct deposit. “
He also clarified that taxpayers do not have to do anything to receive the third aid check. “Most taxpayers have absolutely nothing to do; the payments are automatic and, in many cases, similar to the way people received their first and second rounds of economic impact payments in 2020, ”they noted.
Do you want to track your payment?
The best way to track your payment is through the IRS Get My Payment tool. You can find it in the agency’s application or on the website. Through it you can check the status of your payment, especially since it is updated daily.
On the IRS website, “people can check the Get My Payment tool on IRS.gov to see the status of these payments. Additional information on these economic impact payments, along with a frequently asked questions fact sheet, is available on IRS.gov. “
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