Treasury and the IRS have also confirmed that Social Security Administration beneficiaries who do not file returns, don't need to do anything further and will still receive the rebate. Most of the recipients will get their money through direct deposit.
If you don't receive SSA benefits, you need to file a simple tax return and only then can get your stimulus check. However, the IRS is yet to provide the form, which is expected to only include several basic questions. Once filled and filed, the document will open your way to receiving the stimulus check.
For people providing their banking information online a special internet platform will be launched. It's unclear when it would be up and running, however it's expected in early May at the latest. And finally, for persons receiving paper checks the timeline of economic impact payments may be extended even further. The worst piece of information is that the IRS will be releasing roughly 5 million checks per week and that means some people may only receive theirs after 20 weeks. Seeing that first paper checks should be issued 3 weeks after direct debit payments are launched, this may mean late Summer for some.
A glimmer of hope for those afraid to be last on the list: dates are not set in stone and the timeline might prove shorter than initially expected.
In total as many as 170 million Americans may be eligible for the stimulus package payment. To receive the full amount of $1,200 per adult and $500 per child, families have to show joint adjusted income of $150,000 or less ($75,000 per individual adult). This is adjusted gross income (AGI), not taxable income - so before your standard or itemized deductions.
