'What if you are not set up for automatic deposit and are waiting for a paper check?'
The government is using the Internal Revenue Service to distribute so-called Economic Impact Payments to many Americans, also known as “stimulus checks.” Singles can receive up to $1,200, married couples can receive up to $2,400. Your under-age-17 kids are worth up to another $500 each. However, EIPs are phased out at higher income levels — based on your 2019 Form 1040 if you’ve already filed it, or your 2018 Form 1040 if you have not.
Meanwhile, we are receiving questions from readers about how the whole EIP scheme is supposed to work in various circumstances. With part 1 this column, I’ll try to answer some of those questions. Full disclosure: I’ve edited them and added a few of my own. Here goes. Q: What if you are not set up for automatic deposit and are waiting for a paper check? A: According to the government, your EIP check could take up to five months to arrive. Your payment amount will be based on information on your 2019 Form 1040 if you’ve filed it or your 2018 Form 1040 if you have not. Unfortunately, if you go to the IRS Get My Payment link, you may be unable to learn anything about the status of your check. You may be told that the IRS lacks the information to respond.
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