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Millions of coronavirus stimulus checks are being sent out via direct deposit or postal mail
- Direct deposits will generally arrive sooner, and there is a government website where you can enter your bank account information
- But time is running out. You now have until noon on Wednesday, May 13, to submit your information. Otherwise, your check will come in the mail
There’s still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly.
But that window is closing, the IRS said on Friday.
Americans who qualify for a one-time payment now have until noon on Wednesday, May 13, to get their money faster by submitting their direct deposit information on the Get My Payment site.
After that deadline, the government will begin sending millions of paper checks that will arrive later this month and in June.
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“We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information,” IRS Commissioner Chuck Rettig said in a statement. “Time is running out for a chance to get these payments several weeks earlier through direct deposit.”
Congress authorized payments of up to $1,200 per individual and $2,400 for married couples, plus $500 for children under 17, to help low- to middle-income Americans cope with the downturn caused by Covid-19.
The Get My Payment tool can also be used to check on the status of your stimulus check. That information is updated once per day.
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In addition, another web tool for people who do not typically file tax returns is also still available. The non-filer tool lets those individuals submit basic information, including their bank account number, to expedite the receipt of their stimulus checks.
Payments will automatically be sent to individuals receiving government benefits through Social Security, Supplemental Security Income, Railroad Retirement or Veterans Affairs.
The Treasury Department announced on Friday that almost 130 million payments totaling about $218 billion have been sent out so far. The government expects to send about 150 million payments total.
This story first appeared on CNBC.com. More from CNBC: