These People Will Not Receive The $1200 Stimulus Check Until September

When Will I Get My Stimulus?
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Last week about 80 million direct deposit recipients received their payments however there are about 70 million people who have yet to receive anything.

I talked briefly about the payment schedule in my video the other day however since then I have received over 500 questions on the topic so I decided I would go over it a little more thoroughly

So there are two layers to the payment schedule because we have the payment schedule based on AGI for tax filers and another schedule for those who receive benefits such as SSI, SSDI, VA, and Railroad Retirement.

First those who receive social security benefits (both SSI and SSDI) as well as those who receive railroad retirement benefits are set to start receiving their payments in early May.

However I have been notified from select people that they are a part of these benefit programs and have already received their payments

Those who receive VA benefits unfortunately don’t have a set date as of yet. I have read this is due to additional programming needed to get payments to VA recipients automatically.

For everyone else receiving a paper check the IRS will be mailing out 5 million checks per week.

This includes those who:
-Entered in direct deposit information only to later be notified they would get mailed a check
-Those who had their direct deposit sent to an incorrect bank account in which the payment will be returned to the IRS and mailed to you
-Pretty much anyone else who has encountered “glitches” with the track my payment portal.

Some of you will still get direct deposited in certain instances like if your information has not been processed completely by the IRS yet.

For everyone else receiving a paper check this is the payment schedule:

Those with the lowest AGI will receive payments first starting this week, the week of the 20th. This week will be anyone with under $10,000 adjusted gross income.

Each week it will go up by and additional $10,000

So this week under $10,000
Next week, the week of the 27th under $20,000

And it scales up from here:
Under $40,000 AGI by May 15th
Under $60,000 AGI by May 29th
Under $80,000 AGI by June 12th

That would mean all single filers will receive payment by mid-June. Now this does not mean if you’re a joint filer you will have to wait longer in all circumstances. For example, let’s day a single filer made $60,000 last year and joint filers made $40,000. The joint filers would receive their checks first in this instance.

Under $100,000 AGU by June 26th
Under $120,000 AGI by July 10th
Under $160,000 AGI by August 7th

That would mean all head of households will receive payment by early August

Under $180,000 AGI by August 21st
Under $200,000 AGI by September 4th

So finally all joint filers should receive payment by early September


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Disclaimer
This presentation does not constitute legal or tax advice. It is provided solely for informational and educational purposes and does not fully address the complexity of the issues or all the steps businesses must take under applicable laws. You should consult your professional advisers regarding your individual situation. Max Maher undertakes no obligation to update the information in this presentation, and no representations are made that the content is error-free.

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