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Don’t Miss This Stimulus Check Deadline


If you’re one of millions of Americans who has yet to receive a stimulus check from the government, you have until noon on Wednesday, May 13 to submit your direct deposit information to the IRS using the “Get My Payment” tool. If you miss the stimulus check deadline, you’ll still be able to receive your payment, but you’ll be stuck waiting for a paper check to come in the mail. This could takes weeks or months, depending on your adjusted gross income (AGI) and other factors.

Thinking about saving or investing the money in your stimulus check? Talk to a financial advisor today.

When Is the Stimulus Check Deadline?

This past Friday, May 8, the IRS announced that Americans who are eligible for a stimulus check will have until 12 p.m. on Wednesday, May 13 to file their direct deposit information through the “Get My Payment” online portal. Those who don’t already have their bank account information on file with the IRS must use this tool to ensure that their information is ready if they’re interested in getting their stimulus check via direct deposit.

While this is an important deadline for those who want to receive their check as soon as possible, failing to register your direct deposit information with the IRS doesn’t mean you won’t be eligible for a payment. Instead, you’ll simply have to wait for a paper check in the mail if you don’t input your information by the deadline.

Beginning on April 24, about five million paper checks are being mailed out to Americans on a weekly basis, with the lowest income filers getting payments first. The income threshold for these payments increases by $10,000 every week, with the last paper checks for the highest income earners expected to be mailed by early September.

The Coronavirus Aid, Relief and Economic Security (CARES) Act, which became law in late March, included a number of important provisions designed to help individuals and businesses during the coronavirus pandemic. One-time stimulus checks are a major part of the CARES Act, with individuals being eligible for up to $1,200, while couples can get up to $2,400.

Nearly 130 million Americans have already received their stimulus check payments, either by mail or direct deposit. However, millions more have been left waiting for their checks, which is why the IRS released the “Get My Payment” tool in April.

Why the Stimulus Check Deadline Is Important

Submitting your direct deposit information with the IRS is far and away the fastest and easiest way of receiving your stimulus payment. The money will arrive in your bank account immediately with only a small amount of time needed to process the payment.

It’s also important to check on your information if you think your 2019 tax return is still being processed by the IRS. With an extended federal income tax deadline until July 15, many have yet to file their tax returns. If you haven’t filed your 2019 return yet, it can be especially helpful to give the IRS your direct deposit information so that you can receive your payment quickly.

The “Get My Payment” tool on has been susceptible to some technology issues, which has kept some people from being able to submit their payment information. It’s important to remember, though, that if you don’t submit your direct deposit information by Wednesday’s deadline, you’ll still receive payment, though it will likely take much longer.

Bottom Line

Stimulus Check Deadline

With the IRS deadline for submitting your direct deposit information fast approaching, don’t wait any longer if you need your stimulus check soon. While this stimulus check deadline won’t impact your eligibility, those who don’t have their payment information on file may have to wait some time for a check to arrive in the mail. Be sure to check the IRS’ website to learn what else you might need to do to ensure prompt payment.

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