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The first IRS stimulus checks come out this week. Here's what you need to know

The IRS says it has started to deposit stimulus checks. And now they're working on a way for you to track yours.

SACRAMENTO, Calif. — The Internal Revenue Service says it has started to deposit stimulus money into Americans' bank accounts. Now they are working on a way for remaining citizens to track when their payment will arrive.

Here's what you need to know:

  1. If you qualify for a stimulus check, the check will be for $1,200 (or more if you're married) depending on your income taxes filed in 2018 or 2019.
  2. For those who already have direct deposit set up with the IRS, you can expect to be in your bank account starting Wednesday. If you don’t have direct deposit, your money will still get there but it could take months before that happens.
  3. If you don't see anything in your account, the IRS is working to create a tracking tool where you will be able to track the status of your check. Just head to IRS.gov starting Friday, April 17.

The IRS also plans to mail a letter about your payment within 15 days after the payment has been sent. So if you’re waiting on a physical check and nothing comes, this letter will provide information on how to report failure to receive payment.

If you filed a tax return in 2018 or 2019 and qualify for a stimulus check, there’s nothing left for you to do. Just sit back and wait for that money to arrive.

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