Here’s Exactly When You Can Expect Your Coronavirus Stimulus Check

A man and a woman wear sunglasses and protective face masks in this illustration.
Getty Images

There’s a good chance you’ll have your coronavirus stimulus check in your bank account by April 14, according to a report by The Washington Post

The first direct deposits will be made April 9, according to an IRS draft plan obtained by The Post. Most payments would be available by April 14 at the latest, though the exact date will vary based on how quickly banks can process them. 

Paper checks would be mailed beginning April 24, at a rate of 5 million per week, according to the plan. Those with the lowest adjusted gross incomes would receive the first payments.

Most single adults who aren’t claimed as dependents on someone else’s tax return will receive stimulus payments of $1,200, while married couples will get $2,400. Families with children 16 or younger will receive a $500 credit per child

Benefits for single people with AGIs over $75,000 and married people with AGIs over $150,000 are reduced by 5 cents for every $1 they earn above these thresholds. 

For more information about how the payments will work, check out our coronavirus stimulus checks FAQ

When Will I Receive My Coronavirus Check?

OK, so the big question on your mind is probably: When will I receive my coronavirus check? Here’s the timeframe for payments, as reported by The Post:

April 9: The first direct deposit payments will be made. The majority of these deposits will be available by April 14 at the latest.

April 24: Paper checks will be mailed out to people with adjusted gross incomes (AGIs) of $10,000 or less who don’t have direct deposit information on file with the IRS.

May 1: Checks will be sent to people with AGIs of $20,000 or lower. Each week, another round of checks will go out to those whose incomes are within the next $10,000. So on May 8, checks will be mailed to those with AGIs of $30,000 or less. On May 15, they would go to those whose AGIs are $40,000 or less, etc.

Sept. 4: The final checks would be mailed to eligible taxpayers with the highest AGIs.

Sept. 11: Checks will be mailed to people who need to apply for payments because the IRS doesn’t have tax information available for them.

How Do I Sign Up for Direct Deposit?

If you haven’t signed up for direct deposit via the IRS or Social Security — or if the information they have on file is for a bank account you’ve closed — there’s no easy way to do so at the moment.

The IRS is building a web portal that would allow you to set up and update that information. The feature will probably be available by the end of April to early May, according to a memo from the House Ways and Means Committee.

If you haven’t filed your 2019 tax return yet, you could do so ASAP so the IRS has your updated bank account information.

If you’ve closed your bank account and the IRS tries to deposit your payment to that account, the funds will ultimately be sent back to the IRS. The IRS will eventually mail your check to your last known address if you don’t update your account information in the portal once it’s available.

Is There Anything I Can Do to Get My Check Faster?

There are really only two things you can do to speed up this process:

1. File a 2018 or 2019 tax return if you’re not receiving Social Security benefits.

2. Sign up for direct deposit or update your bank account information if you haven’t already once the IRS makes its portal available. Check https://www.irs.gov/coronavirus frequently, as that’s where the IRS is posting all key information related to coronavirus relief.

If you’ve done those two things, the only thing you can do is sit back and wait.

Robin Hartill is a senior editor at The Penny Hoarder and the voice behind the Dear Penny personal finance advice column.