Danny Meyers & The G105 Morning Show

Danny Meyers & The G105 Morning Show

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No Stimulus Yet? Here's the Latest on When to Expect that Money

The stimulus money continues to roll out but there are still a lot of people who haven’t seen a payment yet.

Many of those waiting will receive a paper check from the federal government.

And receiving that check depends on two things: Your income level listed on your 2018 taxes and whether or not you filed taxes jointly last year.

Here’s the timeline according to the IRS:

  • Between now and June 26, checks for those making between $30,000 and $99,000 will be mailed 
  • From July 3 to Sept. 4, joint filers with incomes between $110,000 and $198,000 will receive paper checks 
  • From Sept. 11 on, eligible individuals who didn’t receive a check previously will be sent one

The IRS says it can only process 5 million transactions a week whether they are direct deposit or paper checks and because the IRS closed all its field offices and truncated its call center operations.

The IRS has answers to frequently asked questions on its website or the Economic Impact Payment Center.

This is interesting -- if you ended up with too much money, the IRS says it’s yours. The agency says there’s no provision in the law requiring refunds of money and you won’t have to repay it on your 2020 taxes.

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