How To Get Your $1,200 Stimulus Payment Direct Deposited To Your Bank Account
In response to the coronavirus crisis, many U.S. workers, including freelancers and independent contractors, are eligible to receive a check from the government. Learn what steps you must take to get this stimulus payment quickly.
Direct deposit information
The direct deposit information is as follows:
The name of your bank
Your bank account number, which can be up to 17 characters (see image below). On the sample check below, the account number is 2020202086.
The “routing number” for your bank, which must contain 9 digits (see image below). On the sample check below, the routing number is 250250025.
Don’t include the check number (1234 on the image below).
If you have filed your 2018 or 2019 tax return with the correct deposit information
If you have already filed your 2018 or 2019 tax return with the IRS with your correct direct deposit information, you don’t need to do anything more.
If you haven’t filed your 2018 or 2019 tax return
If you haven’t filed your 2018 or 2019 tax return with the IRS, you need to file either one electronically with the IRS (unless you are exempted as a social security benefits recipient as discussed below). There are some free websites that allow you to file your return electronically. See the sites recommended by the IRS at www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. Make sure to include your direct deposit information in this filing (where it asks if you want any refund sent by direct deposit).
What to do if the IRS doesn’t have your current direct deposit information
The Treasury is expected to shortly announce an online portal where direct deposit information can be supplied to the IRS. Here is what you should do:
Double-check that you have entered the correct numbers. Entering an incorrect number could result in a 4-6 week delay of payment.
Social Security recipients
On April 1, 2020, the Treasury announced that Social Security recipients who are not typically required to file a tax return will automatically receive their payment directly to their bank account, without having to file a tax return, so long as the IRS has your direct deposit information.
Will you have to pay any income tax on the stimulus payment received?
You will not have to pay income tax on the amount of payment received.
