CORONAVIRUS

Want your economic impact payments direct-deposited? You have until Wednesday

The Treasury Department and the IRS are urging taxpayers who want to get their economic impact payments directly deposit
The Treasury Department and the IRS are urging taxpayers who want to get their economic impact payments directly deposited to their bank accounts to enter their information online by Wednesday. (Associated Press)

The U.S. Treasury Department and the IRS are urging taxpayers who want to get their economic impact payments directly deposited to their bank accounts to enter their information online by Wednesday, May 13.

The government has sent out about 130 million payments in the first four weeks of the program by both direct deposit and by mail.

The IRS said Monday that people should use the Get My Payment tool on the IRS website by noon on Wednesday to provide their direct-deposit information.

After that time, the agency will begin preparing millions of files to send to Bureau of Financial Services for paper checks that will begin arriving through late May and into June.

The government cannot provide direct deposit once the process of sending a paper check has commenced.

The Get My Payment tool can be used to check on the status of a payment or provide direct-deposit information.

It has not always operated smoothly, but the IRS said many of its early glitches have been resolved.

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Any U.S. citizen with a valid Social Security number who makes up to $75,000 will receive a payment of $1,200. Married couples who file jointly and earn less than $150,000 will get $2,400.

The payment steadily declines for those who make more, and phases out for those individuals who earn more than $99,000 or $198,000 for married couples. Parents will get $500 for each eligible child as well.

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