IRS Issuing Stimulus Checks and Direct Deposits

As many of you are aware, the IRS will be sending out stimulus payments beginning this week. Many clients have inquired about these payments and how they would be receiving them. If you normally do not use the direct deposit or electronic transfer feature on your tax returns, and instead use paper checks, your stimulus payments will be delivered as a paper check. Unfortunately, this will likely take a few more weeks than direct deposit. If you would like to change this option, the IRS is now offering a way to update your direct deposit information. This should be available in the next few days, hopefully before Friday April 17th, and can be found here. Once you have reached the IRS web page for Economic Impact Payments, there should be a button on the right side of the screen labeled “Get My Payment”. This will have the option to update your information and receive direct deposit.