April 11, 2020 update:

The stimulus checks started to go out April 9 and have started to arrive in accounts today for those who filed income taxes in 2018 or 2019 and provided direct deposit information to the IRS.

But what about everybody else?

Did you know that the IRS is going to prioritize sending out stimulus checks to those with the lowest income?

In fact, we now have timelines for when these people can expect their checks and I think they are much farther out than what many people originally expected.

Here are the expected timelines for receiving paper checks (based on your income)

• April 24: less than $10,000
• May 1: $10,001 – $20,000
• May 8: $20,001 and $30,000
• May to September: in order from lowest income to highest income based on 2018 or 2019 tax information.
• September 4: Any remaining checks
• September 11: Checks to those who didn’t provide contact information to the IRS.

So a lot of people may not receive their stimulus checks until next month and possibly even way out until the end of the summer.

That is seriously bad news for a lot of people who could use the funds immediately due to decreased business or losing their job.

That’s why I highly recommend for people to sign up for direct deposit as soon as it becomes available. You may have to wait until those with lower income receive their funds first but at least you can jump in front of the line for your income group more than likely.

Again, I am closely monitoring the IRS site and will have a post up the instant that you can sign up for direct deposit. 

If you would like to be among the first notified about when you can check a payment status and sign up for direct deposit, be sure sign up for push notifications by clicking on the bell in the bottom right corner of your screen.

H/T: Forbes

Original post:

A lot of people are very curious about when and how they will receive their stimulus check from the IRS. (Read how to get your check quickly.)

If you already signed up for direct deposit when you filed your taxes, your funds will be automatically sent to you and you don’t have to do anything. If you did not sign up for direct deposit, a check will be sent out to you but you also will have the opportunity to sign up for direct deposit.

Right now, there are many many people waiting for that option to sign up for direct deposit to happen and they want to be among the first to sign up for it to ensure that they don’t have to wait a super long amount of time to receive their funds.

I’ve been monitoring the IRS website and have seen some new activity on the stimulus check page.

First, they are now allowing people to enter payment information if they did not file taxes. This option is only for people who meet certain criteria like having an income below the threshold required for filing income taxes. It is not needed for those receiving benefits like Social Security.

They are also now showing a window where presumably the “Get My Payment” sign-up will show up for direct deposit. The website states that this will be ready in the middle of April.

You will be able to check on things like the status of your payment and also provide your bank account information. And finally, you will be able to confirm if you are receiving a check or a direct deposit.

I have a feeling that this website will crash soon after it is announced that you can sign up for direct deposit and check your payment status.

So you will want to be among the first people to sign up so that you can get ahead of others in line.

I am closely monitoring this site and will have a post up the instant that a change is made. If you would like to be among the first notified about when you can check a payment status and sign up for direct deposit, be sure sign up for push notifications by clicking on the bell in the bottom right corner of your screen.