Economic Impact Payments
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Q & A

Frequently Asked Questions About the Economic Impact Payments (EIP)

When will my money arrive?
The IRS reportedly will start issuing electronic payments through direct deposit on April 9. Those payments should arrive in taxpayers' bank accounts by April 14. If the IRS has to send you a paper check, you won't get your payment until late April at best. And the higher your income, the longer it will take to get your money.

How do I know if I’m getting a check or an electronic deposit?
It depends on whether the IRS has your bank account information. If you signed up for direct deposit of a refund on your 2018 or 2019 tax return, then the IRS has all the information it needs to pay you electronically.

I receive Social Security and don’t normally file a tax return, do I have to for the EIP?
Social Security recipients who are not typically required to file a tax return do not need to take an action, and should receive payment directly to your bank account.

*For informational purpose only, for complete information contact the IRS

 

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