The Internal Revenue Service (IRS) says that about 130 million individuals have already received the coronavirus stimulus payments worth more than $200 billion. This federal stimulus payments is part of the $2 trillion total spending package approved by Congress and signed by President Donald Trump.
That means about 20 million individuals are still awaiting to see that money.
Your friends might have already received and even spent the money. And here you are, wondering what's happening with your case even though you are eligible for this.
Well, have you updated your bank information on the IRS website?
If not, then you should rush because the deadline to do that is by noon on May 13.
The IRS is urging people to do it by going through the 'Get My Payment' tool.
"We're working hard to get more payments quickly to taxpayers," said IRS Commissioner Chuck Rettig. "We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information. Time is running out for a chance to get these payments several weeks earlier through direct deposit."
What happens if you miss the deadline?
Well, don't panic. You will still get the money. You won't see it deposited on your bank account, that's for sure. But you will have to wait until late May or June 2020 to get the paper check delivered to your mailbox.
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