Make Sure IRS Has Your Bank Account Info by Wednesday 5/13/20

Most people who qualify for an economic impact payment have had the funds deposited in their bank already.  If you haven’t received yours, it may be because the IRS does not have your bank account number on file.  If you did not get a refund in 2018 or 2019, your bank account number is not in the IRS records.  You have until Wednesday, May 13, to enter your bank info at www.irs.gov.  Click on “Get My Payment” and follow the instructions. 

If you forget to do it, or if you can’t get through because the IRS servers are overwhelmed, you will still get your stimulus payment.  The check will be mailed to the address on your tax return and you should receive in in a few months. 

Remember that the economic impact payment is an advance payment of a tax credit you will claim on your 2020 tax return.  If your living situation has changed in 2020 (you got married or divorced, had a child or no longer have a dependent living at home) the difference will be made up when you file your return next year.