In the last few weeks, there has been a lot of talk about stimulus checks. The government has been working on a new stimulus package to help Americans who are struggling during the pandemic. One of the most popular questions we’ve been getting is when the direct deposit for the stimulus check 4 will happen. In this blog post, we will give you all the information we know about the fourth stimulus check, including the expected date for direct deposit.
When is the fourth stimulus check expected?
The fourth stimulus check is expected to be sent out in early 2021. The amount of the check will be based on your income and whether you have dependents. If you are eligible, the check will be sent to your bank account via direct deposit.
How will the fourth stimulus check be paid out?
The fourth stimulus check will likely be paid out in a similar fashion to the previous three stimulus checks. The majority of people will receive their payment via direct deposit, with a smaller number of people receiving a paper check or prepaid debit card in the mail.
For those who are eligible, the fourth stimulus check will be deposited into the same account that their previous stimulus payments were sent to. If you have changed banks or account since your last stimulus payment, you will need to update your information with the IRS so that your payment can be sent to your new account.
If you are not sure which bank account the IRS has on file for you, you can check the Get My Payment tool on the IRS website. This tool will show you which bank account your stimulus payment was sent to, as well as the status of your payment.
It is important to note that not everyone will be eligible for a fourth stimulus check. Eligibility criteria have not yet been released, but it is expected that they will be similar to the criteria for previous stimulus payments.
What is the amount of the fourth stimulus check?
As of right now, the fourth stimulus check is expected to be $1,400. This is based on the most recent information that we have. However, this could change in the future as more information becomes available.
Who is eligible for the fourth stimulus check?
If you’re wondering whether or not you’ll be getting a fourth stimulus check, the answer depends on a few factors. The most important factor is your income.
To be eligible for the fourth stimulus check, you must have an adjusted gross income (AGI) of $75,000 or less. If your AGI is above that amount, you will not receive a stimulus check.
The other factor that will determine your eligibility is your filing status. You must either be single, head of household, or married filing jointly to qualify for the fourth stimulus check. If you’re married filing separately or if you’re a dependent, you will not receive a check.
How to make sure you get your stimulus check
If you’re wondering when you’ll receive your stimulus check, the IRS has provided some guidance. According to the IRS, most people will receive their stimulus checks via direct deposit within two weeks of the CARES Act being signed into law.
The quickest way to get your stimulus check is to ensure that the IRS has your most up-to-date direct deposit information on file. You can do this by logging into your online banking account and providing the routing number and account number for the account where you want your stimulus check deposited.
If you don’t have access to online banking, you can provide your direct deposit information to the IRS by completing and mailing in a Form 8888. This form is available on the IRS website.
If you’re not sure whether or not the IRS has your most up-to-date direct deposit information on file, you can check the “Get My Payment” tool on the IRS website. This tool will tell you how and when you’ll receive your stimulus payment.
What is the expected date for the fourth stimulus check?
The fourth stimulus check is expected to be sent out in early 2021. The amount of the check will be determined by the amount of money that Congress approves for the stimulus package. It is possible that the fourth stimulus check could be less than the previous three stimulus checks, but this has not yet been determined.
How will the fourth stimulus check be distributed?
The fourth stimulus check will be distributed in the same way as the previous three stimulus checks. The government will send the money directly to your bank account if they have your direct deposit information on file. If you don’t have direct deposit information on file, you’ll need to provide it when you file your taxes for 2020. The government will then send you a paper check or an EIP card.
How will the fourth stimulus check affect those who have already filed their taxes for 2020?
If you filed your taxes before the passage of the American Rescue Plan, you will not automatically receive a stimulus check. The IRS has said that it will begin issuing direct deposits and paper checks “as soon as possible” after President Biden signs the bill, but it could take weeks for the payments to be processed. If you want to receive your stimulus money as soon as possible, you can file an amended return with your updated information.
Conclusion
As we await more news on the fourth stimulus check, we can at least take comfort in the fact that direct deposit is a fast and convenient way to get your money. If you’re still waiting on your first, second, or third stimulus check, be sure to sign up for direct deposit so you can get your money as soon as possible. And if you have any questions about the process, our team at Get Your Money is here to help.
