This browser does not support the Video element.
How to prioritize spending your stimulus check
Financial coaches say that once you get your stimulus check, set it aside to avoid the temptation of spending it. Then collect a clear picture of all your expenses over the next month.
HOUSTON - The Internal Revenue Service has launched an online tool to help you check the status of your second stimulus payment.
The IRS and the Treasury Department began delivering the second round of Economic Impact Payments by direct deposit and by mail last week.
Where is my payment?
The Get My Payment feature on the IRS website will allow you to confirm if and how your stimulus payment was sent out – by direct deposit or by mail.
The tool will ask you to enter information including your social security number, your date of birth and your address.
Officials say there is no need to check more than once per day as the data is only updated once per day overnight.
SUBSCRIBE TO THE FOX 26 MORNING CHECK IN, OUR DAILY EMAIL NEWSLETTER
The public is asked not to call the IRS about the second stimulus payment. They say phone assistors do not have additional information beyond what’s available on the website.
What do I need to do to get my payment?
The IRS says that there is no action required by eligible individuals to receive this second payment.
The direct deposits began going out last week and will continue into this week.
Anyone who received the first round of payments earlier this year but doesn’t receive a payment via direct deposit will generally receive a check or, in some instances, a debit card. Those payments began going out last week and will conclude in January.
This browser does not support the Video element.
A breakdown of the second stimulus checks
Congress has approved a second stimulus bill, but what can we expect? Heather Sullivan breaks it down.
For Social Security and other beneficiaries who received the first round of payments via Direct Express, they will receive this second payment the same way.
The IRS says eligible individuals who did not receive an Economic Impact Payment this year – either the first or the second payment – will be able to claim it when they file their 2020 taxes in 2021. The IRS urges taxpayers who didn’t receive a payment this year to review the eligibility criteria when they file their 2020 taxes; many people, including recent college graduates, may be eligible to claim it. People will see the Economic Impact Payments (EIP) referred to as the Recovery Rebate Credit (RRC) on Form 1040 or Form 1040-SR since the EIPs are an advance payment of the RRC.
Click here for more Frequently Asked Questions about the second stimulus payment.