When Will The Next Stimulus Checks Be Deposited – Who Will Receive A Stimulus Check

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When will the next Stimulus checks be deposited you may ask. Stimulus check is a lifeline in the wake of this COVID-19 pandemic. This Stimulus relief known as the CARES Act will be responsible for providing billions in loans to distressed industries, small businesses and to expand the unemployment benefits program. As announced a majority of the U.S will be receiving this check but the question is when will it be deposited.

When Will The Next Stimulus Checks Be Deposited
When Will The Next Stimulus Checks Be Deposited

When will the Next Stimulus Check be Deposited

As stated by the Washington Post, the IRS plan is to send the first batch of payments to those who have their direct deposit information on file. After that, it will be issuing paper checks. It will be issuing paper checks on a weekly basis based on AGI and also in a $10,000 dollar increment. If you already filed your tax return from 2019 or from 2018 then worry not there is already a schedule in place as to when you can relieve your Stimulus check.

Schedule for When Stimulus Checks will be Deposited

For those who already have their deposit information on file will be receiving theirs week ending April 17th.

  • Paper checks for people with up to $10,000 in AGI: the week ending April 24.
  • For those between $10,000 AGI and $20,000 AGI: the week ending May 1.
  • For those between $20,000 AGI and $30,000 AGI: the week ending May 8.
  • For those between $30,000 AGI and $40,000 AGI: the week ending May 15.
  • For those between $40,000 AGI and $50,000 AGI: the week ending May 22.
  • For those between $50,000 AGI and $60,000 AGI: the week ending May 29.
  • For those between $60,000 AGI and $70,000 AGI: the week ending June 5.
  • For those between $70,000 AGI and $80,000 AGI: the week ending June 12.
  • For those between $80,000 AGI and $90,000 AGI: the week ending June 19.
  • For those between $90,000 AGI and $100,000 AGI: the week ending June 26.
  • For those between $100,000 AGI and $110,000 AGI: the week ending July 3.
  • For those between $110,000 AGI and $120,000 AGI: the week ending July 10.
  • For those between $120,000 AGI and $130,000 AGI: the week ending July 17.
  • For those between $130,000 AGI and $140,000 AGI: the week ending July 24.
  • For those between $140,000 AGI and $150,000 AGI: the week ending July 31.
  • For those between $150,000 AGI and $160,000 AGI: the week ending Aug. 7.
  • For those between $160,000 AGI and $170,000 AGI: the week ending Aug. 14.
  • For those between $170,000 AGI and $180,000 AGI: the week ending Aug. 21.
  • For those between $180,000 AGI and $190,000 AGI: the week ending Aug. 28.
  • For those between $190,000 AGI and $198,000 AGI: the week ending Sept. 4.
  • All other checks, those who didn’t have tax info on file: the week ending Sept. 11.

If you are owed a paper Stimulus check then this schedule should give you a good idea when your check will be deposited.

Who will receive a stimulus check

Before keeping an eye into the process if the Stimulus checks. It is important to note that IRS will be using your most recent tax filing to determine your eligibility. So note that your income will be a determining factor.

The following are to relieve the maximum check of $1200 per individual or $2500 per couple if filing jointly.

  • Single filers who earned less than $75,000 in AGI.
  • Head of household filers who earned less than $112,500 in AGI.
  • Married couples filing jointly with less than $150,000 in AGI.

The following high-income earners are disqualified for receiving a Stimulus check.

  • Single filers with over $99,000 in AGI.
  • Head of household filers above $136,500 in AGI.
  • Married couples filing jointly with more than $198,000 in AGI.

Conclusion

You may wonder if you fall between lower and upper bound where the payout stops. You will receive five dollar payout for every hundred dollars in AGI. And a single filer would receive $950 instead of $1200.

am loyal smart and humble.