Stimulus Payments Are Already Showing On People’s Accounts
I wanted to do a quick post on the 3rd stimulus payments and the fact that they are already showing in people’s bank accounts as pending. The bill was signed just yesterday so that is an amazingly quick turnaround! Especially when you factor in that the IRS is in the midst of the tax season on top of that. I am sure having done this twice before had something to do with it 😉.
If you received your payment via direct deposit last time around you should be first in line to get it this time around. Our own Ian Snyder has his payment showing as pending in his account. The charge shows that it won’t clear until 3/17/21 so that seems to be the earliest that you will have access to the money.
If you received a paper check last time, like me, then you will likely be waiting a few more weeks. The IRS should be updating their website soon to check your progress, just like last time. I received mine via direct deposit the first time around but I filed my 2019 taxes in-between the first and second payment. For the 2019 taxes I had to pay in so somehow that took me off the direct deposit list even though I had it the first time around. So if you filed taxes between the 2nd and 3rd stimulus payment and had to pay in then you could run into a similar issue this time around.
This stimulus round was not all sunshine and rainbows as we covered earlier. There were items added to the bill that affects PayPal payments, portal cash outs and resellers etc. So be sure to check that out as well.