Important information regarding the CARES Act
In response to the coronavirus pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized the U.S. Department of the Treasury to send an Economic Impact Payment to most U.S. residents beginning in April 2020. Most taxpayers will receive the payment automatically and no further action is needed.
To simplify the process, we have compiled an overview of some frequently asked questions as well as information available on IRS.gov regarding eligibility, payment amounts, tracking your payment and more.
Visit the IRS Economic Impact Center for additional information about:
- Who is eligible?
- Who is not eligible?
- How much is it worth?
- Do I need to take action?
- Payment recipients: watch for an IRS letter
- Avoid economic payments and other tax related scams
Additional FAQs
What is the timing of the payments?
The IRS began issuing payments on April 11. Visit IRS.gov/coronavirus for updates.
How does the Treasury plan to distribute these payments?
How will I know when my payment is directly deposited into my bank account?
What should I do if I receive a stimulus check in the mail?
Where can I get more information?