GREENSBORO, N.C. — You're waiting and you're watching your account, hoping the next time you open up your banking app, the stimulus money is there.
When it does show up, USA TODAY confirms you will see it called...
Don't expect to see words like “stimulus” or “recovery” or “economic impact."
FIRST WAVE OF PAYMENTS
By April 15th, it's estimated 80-million people will have their stimulus money in their account. Who are the first to get it? Folks who have their direct deposit information already on file with the IRS.
SECOND WAVE OF PAYMENTS
The next wave of payments will most likely be in the next 2 weeks and will include social security beneficiaries (that includes SS, SSI, and disability) who receive their benefits by direct deposit.
THIRD WAVE OF PAYMENTS
And finally, paper checks will start going out in early May. That process could take 20 weeks in total. The IRS estimates it can process 5 million checks a week.
WHAT YOU NEED TO KNOW
- If you get benefits AND you have kids under 17, you will put your info in at this same portal to claim your $500 per child.
- CHECK YOUR PAYMENT STATUS. As of 4/15, the IRS should have a portal for you to check where your money is.
- Don’t waste time waiting for a paper check. Give the IRS your direct deposit number to get your money faster with the portal that will be open on the page on 4/15.