The economic impact payment, also known as the stimulus check, is a payment issued by the federal government to provide financial assistance to individuals and families during the COVID-19 pandemic. The payment is intended to help individuals and families cope with the economic effects of the pandemic, such as lost income, higher expenses, and reduced access to services.
The economic impact payment is based on the individual or family’s income, with higher payments going to those with lower incomes. The payment is generally $1,200 for individuals and $2,400 for married couples filing jointly, with an additional $500 for each qualifying child under the age of 17.
The economic impact payment was first issued in 2020 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. A second round of economic impact payments was issued in 2021 as part of the Consolidated Appropriations Act.
If you are eligible for an economic impact payment, there are several ways to check the status of your payment:
- Check the IRS website: The IRS has a tool called the “Get My Payment” portal that allows you to check the status of your economic impact payment. To use the tool, you will need to provide your Social Security number, date of birth, and mailing address. The tool will provide you with information on whether your payment has been issued and, if so, how it was delivered (e.g., by direct deposit or mail).
- Check your bank account: If you received your economic impact payment by direct deposit, you can check your bank account to see if the payment has been deposited.
- Check your mail: If you received your economic impact payment by mail, you can check your mailbox to see if you have received a check or debit card.
- Contact the IRS: If you have not received your economic impact payment or have questions about its status, you can contact the IRS by calling the Economic Impact Payment line at 800-919-9835.