According to verified reports coming so far, for the total $3.5 billion payment as a subsidy in economic impact, an amount of $1.8 million has been released to initiate the round of $1400 stimulus checks for people who already qualified.
Your money is probably going to end up in your mail or directly in your bank account. So don’t forget to keep checking your mail for any other updates coming any day now. Still haven’t got your money, the IRS tracker will track it for you.
Around $3.5 billion has been released so far by the IRS. Around $1.9 billion as traditional paper checks and around $1.6 billion as a direct deposit to bank accounts, even to the people that come under the umbrella of the American rescue plan along with enhanced child tax credit and tax exemption for those receiving the 2020 unemployment benefits.
So, how can you use the IRS Get My Payment tracker tool? It’s pretty simple. With the online tool or the application, you can easily get daily updates regarding your payment. Moreover, the app also allows you to register any complaint regarding the mail delivery or issue with the payment proceedings or adjustments.
What can I do if I get a stimulus check lower than what I expected? Well, IRS has to deal with thousands of such checks and claims every single day so you can already imagine that they are not in a position to maintain every single piece of data accurately. That’s why, if you ever find some issues in your payments whatsoever, the IRS is ready to hear your claim once again. Oh, and don’t worry the unemployment fund of the year 2020 is exempted from tax under the IRS initiative.