IRS releases timeline, requirements for stimulus payments

GREENSBORO, N.C. — As of April 1, the Treasury Department and the IRS confirmed stimulus money payments will begin in the next three weeks. That's an estimated start time of April 22. READ the entire FAQ from the IRS.

#1 How will I get the stimulus payment?

Direct deposit or check. If the IRS already has your direct deposit information from previous tax returns, you will get a deposit into your account. If not, the IRS will send you a check.

*But get this, the IRS is working on an online portal. So, if you have direct deposit, but have never used it with the IRS, you will be able to give the info to them and not wait for a paper check. This is in the works, it's not up yet.

I repeat it's not up yet, DON’T BE SCAMMED!Don't give your information until you see WFMY News 2 show you what the portal looks like!

RELATED:Stimulus checks: Are college students, inmates, and people who owe back taxes included?

#2 How much will I get?

The IRS will calculate the amount. The agency will use your 2019 tax returns if you've already filed. If not, the payment will be calculated on your 2018 return.

RELATED:Stimulus check calculator: See how much you'll likely be getting

#3 What if I don’t file taxes?

Pay close attention. Those on social security, disability, SSI and those who don't normally file taxes, MAY have to file a simple return to get the payments.(If you do have to, here is theFREE FILEfrom the IRS)

There is a fight right now. The new guidelines would require you to file taxes to get the stimulus payments. But there are dozens of Senators trying to get that changed. So, hold tight. Let's see what changes in the next few days.

Click here for more details from News 2

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