Those waiting for the arrival of the third stimulus payment, which could be deposited as early as this weekend, will soon be able to follow its status on the Internal Revenue Service (IRS) website.
Like the other two incentive payments, you can track the status of yours using the IRS’s Get My Payment tool. However, the tool is not yet available for payments through the American Rescue Plan (ARP), as the IRS needs time to review the tax provisions of the law.
Those with a direct deposit set up with the IRS will receive their payments first. After those deposits, the IRS will send paper checks and prepaid debit cards to all others who qualify. The Get My Payment tool tells users what type of payment to expect.
Users have reported problems using the tool in the past. The IRS said earlier that the system can become overwhelmed if too many people use it. It also showed incorrect bank account information and deposit dates for some users during the $ 600 second payout earlier this year.
Previously, the IRS updated the tool once a day. If there is no update on the status of a payment, users can check again the next day.
If the tool does go online, the status of the first two incentive payments will not be displayed. Eligible people, but have not yet received one or both, must claim the Recovery Rebate Credit on their 2020 tax return.
Use this calculator from the Grow personal finance website to see how much you qualify for: