IRS sets May 13 deadline to submit direct deposit information for stimulus checks - CNBC

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There's no better time to think about next year's taxes than right after you file this year.

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There's still time to submit your bank account information to the IRS to get your $1,200 stimulus payment more quickly.

But that window is closing, the IRS said on Friday.

Americans who qualify for a one-time payment now have until noon on Wednesday, May 13, to get their money faster by submitting their direct deposit information on the Get My Payment site.

After that deadline, the government will begin sending millions of paper checks that will arrive later this month and in June.

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"We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information," IRS Commissioner Chuck Rettig said in a statement. "Time is running out for a chance to get these payments several weeks earlier through direct deposit."

Congress authorized payments of up to $1,200 per individual and $2,400 for married couples, plus $500 for children under 17, to help low- to middle-income Americans cope with the downturn caused by Covid-19

The Get My Payment tool can also be used to check on the status of your stimulus check. That information is updated once per day.

In addition, another web tool for people who do not typically file tax returns is also still available. The nonfiler tool lets those individuals submit basic information, including their bank account number, to expedite the receipt of their stimulus checks.

Payments will automatically be sent to individuals receiving government benefits through Social Security, Supplemental Security Income, Railroad Retirement or Veterans Affairs.

The Treasury Department announced Friday that almost 130 million payments totaling about $218 billion have been sent out so far. The government expects to send about 150 million payments total.


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