ORLANDO, Fla. - Millions of Americans could be waking up to some extra money in their bank accounts.
The IRS said stimulus payments are expected to be deposited into millions of bank accounts on Wednesday. The first wave of people to receive the money will be Americans who filed their taxes in 2018 or in 2019 and received a refund via direct deposit. The IRS will direct deposit the stimulus checks into people’s bank accounts.
Most individuals will get $1,200 and married couples will receive $2,400 under the economic impact payments. Adults will also get $500 for each child who qualifies.
Most taxpayers who filed federal income tax returns in 2018 and 2019, most seniors and retirees will not need to do anything to get their economic impact payments. The money will either be direct deposited into the person’s bank account or a paper check will be issued, depending on how a person normally gets their benefits or how they received their 2018 tax refund.
But scammers could be looking at checks as an opportunity to strike.
Most Americans can expect to see a payment of $1,200 and up -- but experts say we're more likely to fall victim to scammers trying to steal our money. Since there's so many people out of jobs right now, and they're not getting unemployment checks, many are in desperate need.
To protect your stimulus check, here's what you shouldn't do:
- Don't give out personal information from anyone claiming they are from the government or want to expedite your check.
- DO NOT CLICK on phishing e-mails that want you to log into a website, and that your check can be expedited.
- The IRS will never call, text, or e-mail you asking for personal or bank account information. The agency will send people a letter.
People who get the notice and no payment should call the IRS immediately.
If you checked your bank account and don't have the stimulus check yet, it could come later on Wednesday.
Otherwise, the IRS has launched a tool called the "Get My Payment" tool. You will be able to see how the IRS is sending that payment, when it will be sent out, and you will be able to enter your bank account information if the agency has not already sent you a paper check.
Within 15 days after the payment is paid, the IRS plans to mail a letter to the taxpayer’s last known address notifying the recipient on how the payment was made. It will also include details on how to make a report if a person did not receive the payment.