On April 15, 2020, the IRS opened a Direct Deposit Portal on their website to provide status updates on the Economic Stimulus Payment for taxpayers.

By clicking here, you will be able to:

• Enter your bank information for direct deposit if you have not previously requested direct deposit on a return.
• Confirm the payment type: direct deposit or paper check.
• Check the Stimulus Payment Status.

Taxpayers who want to add their bank information for direct deposit, in order to speed up the payment process, must provide the following information:

• AGI from the last tax return filed (2018 or 2019).
• The refund or amount due from the most recent tax return.
• Bank information (account type, routing & account number).

It appears that taxpayers who are not qualified for an advanced payment, will receive a message stating “Payment Status Not Available” when entering in their bank information.

The Economic Payment Status has caused a lot of confusion for many, in addition to raising several concerns for a number of taxpayers. The IRS issued a FAQs page on its’ website to address those areas of concern.

Here are some of the issues addressed in the FAQs page:

Q: Why am I getting the “Payment Status Not Available” message?

You may have received this message for one of the following reasons:

• You are not eligible to receive a payment due to income limitations (AGI is higher than $99K for single filer, or $198K for MFJ) or dependent status.
• Your 2018 or 2019 return has not been filed yet.
• Your 2018 or 2019 return was recently filed and is still in processing.
• If you are a SSI or VA benefit recipient, the IRS is working with your agency to issue your payment.

Remember, the payment data is updated only once a day, so there is no need for you to check back more than once daily.

Q: My bank account has changed since I filed. Can I update it using the ‘Get My Payment’ tool?

Yes, but only if the information has not been submitted previously on a return. So, if you have not entered your bank info on a recently filed return, or if your information submitted previously was incorrect and resulted in a paper refund, then you will be able to correct it using this tool.

Q: I recently moved and have a new address. Can I change it using the ‘Get My Payment’ tool?

No. In order to change your address, you must:

• File your 2019 tax return with your new address. Your address will be updated once your return has been processed.
• If you have already filed your 2019 return, your check will be mailed to the address on the last tax return filed, unless your direct deposit information has been provided on a previously filed tax return.

Q: I previously made an electronic payment to the IRS using my bank account. Will my payment be direct deposited to that same account?

No, the account used to make a payment cannot be used for the direct deposit of your payment. However, if the IRS does not have your bank account information, and the stimulus payment has not been processed, the ‘Get My Payment’ tool will allow you to enter your banking information once your identify has been verified.

For a full list of questions and answers, please go to:

www.irs.gov/coronavirus/economic-impact-payment-information-center