Stimulus checks [March 2021] (Americans)

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Stimulus checks [March 2021]:

If I understand correctly, the Senate did approve a third stimulus check recently, now the House has to vote. Unless I missed something.

I submitted my taxes for Tax Year 2020 last month. Mailed them out. But I'm assuming if they haven't been processed yet, the stimulus will still be based on the most recently filed, which for me was Tax Year 2019.

Anyone know anything else? I do kind of want to start filing online, but was always hesitant. I thought you had to buy one of those software programs like TurboTax, so I always did it by paper. Does the IRS now allow you to just fill out an e-form and submit?

Also, although I did it by paper this year like I always do, for the first time I included my bank information for direct deposit. I used to just get a rebate in the mail, and last year's stimulus checks also came in the mail. But if it's still based on last year's taxes, I'm assuming it'll be a paper check again until my current taxes are processed by the IRS. After processing the current taxes I mailed last month, I'm hoping any and all monies from the IRS will go to my bank account directly. (They say it takes 4-6 weeks for the IRS to process mailed returns). Before stimulus checks, this never really mattered.

Anyone with anything to add?

If you make $75,000 a year or under in your Adjusted Gross Income as a individual—or if members of a partnership make $150,000 a year or less, you get the full $1400/$2800.

If you make $80,000 or more as an individual, or a partnership makes $160,000, you get nothing.

People with kids get more. I’ll have to look up how much per kid (or dependent).

Did you file by mail or online this year? (Or maybe you haven't filed yet.)

I think online is processed much faster. IRS appears to go by most recently FILED taxes. My mailed taxes for this season are still in limbo for now.

I’ve been filing online for at least a decade. It’s much faster.

When you file online:

1) Is it free?
2) How long does it take for the IRS to process? Did you get your rebate already?

You can file for free if you make about $66,000 or less. It might be more now. You can do it directly through the IRS.

I don’t get a “rebate”—so I don’t know.

I doubt it takes more than a month for the IRS to see to your efiled tax return. It takes much longer if mailed.

Thanks. That what I was getting at. Mail takes longer.

In the past, it didn't matter. But now, with stimulus checks based on tax filings, I regret not going virtual sooner.

LAST QUESTION: If you got any stimulus checks this past year, did they mail you a paper check? Or once you went virtual, it was automatically direct deposit?

Direct deposit. You give your bank account info.

I've been using OnLine Taxes at olt.com for the last few years. It's as barebones as I've found, but still not just "here's the form; put in numbers".

I tend to do the taxes near the deadline, & we still get our refund back around mid May (or before June anyway) when direct deposited. When it came as paper, we usually had it by mid June.

The first covid payment came via direct deposit. The second came in the mail after everyone else we knew had already received theirs.

Will people get stimulus checks this month? Do people only get checks when they do taxes?