If you haven’t received your 3rd stimulus check yet, here’s why Wednesday matters

Coronavirus Stimulus

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WASHINGTON (NewsNation Now) — For those still waiting on a $1,400 stimulus check, the Internal Revenue Service announced the next batch will arrive in bank accounts and mailboxes this week.

The IRS began processing the latest batch of payments Friday, with many in this next round being sent as paper checks or debit cards. For those still awaiting a direct deposit, the IRS says to expect the stimulus to be posted in bank accounts Wednesday.

If you do not receive a direct deposit by Wednesday, your stimulus check will likely be sent in the form of a paper check or prepaid debit card known as an Economic Impact Payment Card, the IRS said.

Sample stimulus check
Sample Economic Impact Payment Card

The IRS stressed in a statement announcing the latest distribution of stimulus money that most payments will be delivered by direct deposit.

There were 90 million payments sent as of last week, according to the IRS. Stimulus payments began processing the day after President Joe Biden signed the $1.9 trillion stimulus bill.

The status of payments can be checked through the Get My Payment tool on IRS.gov. The website is updated daily, usually after midnight. It will also list the way payment will be sent if it has been processed.

The $1.9 trillion legislation package provides a direct payment of $1,400 for a single taxpayer or $2,800 for a married couple that files jointly, plus $1,400 per dependent. Individuals earning up to $75,000 would get the full amount, as would married couples with incomes up to $150,000.

The size of the check would shrink for those making slightly more, with a hard cut-off at $80,000 for individuals and $160,000 for married couples.

Approximately 85% of Americans are eligible for a stimulus payment of some kind. Eligibility is based mainly on information from 2019 or 2020 tax filings. Those who receive government benefits, including social security or filed for their first stimulus check using the IRS’ non-filers portal last year also qualify.

NewsNation affiliate KTLA contributed to this report

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