Eligible Americans may still claim their $1,400 stimulus payment, and choosing direct deposit is the fastest way to receive it. As inflation continues to strain household budgets, these funds offer critical relief for groceries, bills, or savings. If you haven’t received your payment yet, here’s how to make sure it gets to your bank account quickly.
Who Is Eligible for the $1,400 Stimulus?
The payment is targeted toward individuals earning up to $75,000 annually or $150,000 for married couples filing jointly. Heads of household earning up to $112,500 also qualify. Partial payments may be available to those above these limits. You must have a valid Social Security number and not be claimed as a dependent on another person’s tax return to receive the stimulus.
Steps to Set Up Direct Deposit with the IRS
To ensure the fastest delivery, taxpayers should verify their banking information through the IRS’s online portal or via tax filing. When filing taxes, ensure your account and routing numbers are accurate. If you’re using a tax software provider or a professional, they can help set it up. Direct deposit avoids delays tied to mailed paper checks and reduces the risk of lost payments.
When Will Payments Be Sent?
Once processed, direct deposit payments typically arrive within 5 to 10 business days. If the IRS already has your banking details from a recent tax return, you could receive it sooner. Paper checks or prepaid debit cards can take several weeks. Payment batches are being sent out in waves, with priority given to low- and middle-income filers who submitted accurate returns.
Quick Reference Table
| Criteria | Details |
|---|---|
| Payment Amount | $1,400 per eligible person |
| Eligibility Income Cap | $75,000 (single) / $150,000 (married) |
| Delivery Method | Direct deposit, paper check, or debit card |
| Fastest Method | Direct deposit (5–10 business days) |
| How to Update Info | Through IRS online tools or tax filing |
The $1,400 stimulus can be a vital financial lifeline—but only if you take the steps to ensure you’re on the list and your direct deposit information is up to date. Don’t wait for a paper check when you can receive your funds directly into your bank account within days. Whether you’re filing taxes now or already submitted, review your information and act fast to avoid missing out.
FAQ’s:
1. What if I didn’t file taxes recently—can I still get the stimulus?
Yes, you can file a simplified return or use the IRS Non-Filers tool to claim your payment.
2. Will the stimulus affect my tax refund?
No, it’s not considered taxable income and won’t reduce your refund or increase taxes owed.
3. Can I track my payment status?
Yes, the IRS offers a “Get My Payment” tool where you can check your payment status and method.
4. What if I entered the wrong bank information?
If the deposit fails, the IRS will issue a paper check automatically to your address on file.
5. Can I still receive the payment if I was claimed as a dependent in 2021 but not in 2022?
Yes, if you file your own 2022 return and meet income requirements, you may qualify for the payment.
