Many Americans may see their $1,400 stimulus payments officially deposited into their bank accounts this Wednesday, March 17, according to the IRS.
In some cases, recipients may see their money post as a pending payment before then, and in fact, some people said they’d seen direct deposits showing up in their accounts as early as Friday. As of Monday, the IRS’s Get My Payment tool is active and can be used to get the status of payments, the IRS said.
Of course, not everyone will get them this quickly. In the coming weeks, additional batches will go out via direct deposit and through the mail as checks or debit cards, the IRS said. Most people will get them automatically, and generally speaking, you’re likely to get your third stimulus payment the same way you got your first and second.
In this round of stimulus—the largest yet—each qualified taxpayer will get up to $1,400, plus $1,400 per dependent, meaning a family of four could receive as much as $5,600. Eighty-five percent of U.S. households will receive payments, according to President Joe Biden.
Besides the checks, the American Rescue Plan Act, a massive package of relief measures passed last week, includes funding for vaccines, an extension of unemployment benefits, and other measures aimed at defeating the pandemic and the economic downturn it caused.
“Shots in arms and money in pockets,” Biden said in a speech Monday. “That’s important. The American Rescue Plan is already doing what it was designed to do: make a difference in people’s everyday lives. And we’re just getting started.”