Around 88.1 million Americans have received their stimulus check payments, according to new data by the Internal Revenue Service, with the average amount totaling $1,791.
So far, the issued payments are worth $158 billion in total.
“The IRS, Treasury and partner agencies are working non-stop to get these payments out in record time to Americans who need them,” said IRS Commissioner Chuck Rettig in a statement. “Tens of millions of people across the country are receiving these payments, and millions more are on the way.”
The state-by-state distribution of payments aligns with population. California, Texas, and Florida — the three most populous states — have received the most individual payments and the largest total amount in stimulus worth $15.9 billion, $14.4 billion, and $11 billion, respectively.
As part of the $2 trillion stimulus package, a total of $250 billion is being distributed to Americans’ wallets to help them financially ride out job loss, reduced work hours, and other money hardships they’re facing.
About 175 million Americans are eligible for the payments, according to the White House, meaning about half of those eligible have gotten their payments so far.
The first batch of around 5 million paper checks should have arrived today in the mail for many Americans, while the distribution of paper checks will continue until mid-September. Social Security recipients who don’t file taxes are expected to receive their stimulus payments by the end of April.
Americans can now track the status of their stimulus payments and add direct deposit information on the IRS website if those details aren’t on file with the agency. Those who don’t usually file taxes can also provide the IRS with their information to get their stimulus payment.
Here’s everything you need to know about the stimulus check.
Who gets a stimulus check?
As part of a $2 trillion coronavirus relief package, many Americans will get government checks up to $1,200 — plus $500 per child — to help them ride out a job loss, reduced work hours, and other money challenges as the country tries to stem the pandemic.
“Our updated estimate is that 93.6% of [tax] filers will have a rebate,” Garrett Watson, senior policy analyst at The Tax Foundation, said. “And this works out to approximately 140 million households.”
Your eligibility is based on your most recent tax return and your adjusted gross income. If you already filed your 2019 taxes, your eligibility will be based on that. If not, the IRS will use your 2018 taxes to determine if you qualify.
The benefit is available not only to those who have filed taxes, but also to those who receive Social Security benefits as long as they’ve received their SSA-1099 or RB-1099 forms.
Single adults with income up to $75,000 will get a $1,200 payment. Married couples with income up to $150,000 will get $2,400. Single parents who file as head of household with income up to $112,500 will get the full $1,200 check.
And, Americans who qualify for the stimulus payment and have children will get an additional $500 per child under 17.
Reduced checks will be available for single adults who earn between $75,001 and $99,000 and married couples who earn between $150,001 and $198,000.
The check will be reduced by $5 for every $100 over $75,000 for single adults and $150,000 for married couples. The reduction will apply to the entire amount of the payment including the additional $500 per qualifying child.
Who doesn’t get a check?
Single adults who make more than $99,000 and married couples who earn more than $198,000 won’t receive stimulus checks.
Those without a Social Security number and nonresident aliens — those who aren’t a U.S. citizen or U.S. national and don’t have a green card or have not passed the substantial presence test — aren’t eligible.
You’re also ineligible if your parents claim you as a dependent on their taxes.
How will the government send you the stimulus check?
The IRS will use the direct deposit information you provided from the taxes you’ve filed either for 2019 or for 2018.
The payments will be deposited directly into your bank account if you received your last tax refund or expect to receive this year’s refund that way.
Otherwise, checks will be mailed, which could take longer to get to Americans. Adding to the complications, about 6% of U.S. adults — or about 12 million Americans — do not have a checking, savings, or other bank account, according to a 2018 Federal Reserve report.