IRS Announces Wednesday Deadline for Requesting Stimulus Payment

If you're still waiting for your $1,200 stimulus payment and haven't registered for it on the IRS website, you'd better get moving -- the Internal Revenue Service has set a Wednesday deadline to file direct deposit requests.

Making the announcement Monday, the IRS says they've already sent out about 130 million payments over the past four weeks and they want to wrap up the first phase of the massive money giveaway. So they're encouraging anyone who hasn't received their money to use the "Get My Payment" tool by noon Wednesday to provide their direct deposit information.

According to the IRS, "any U.S. citizen with a valid Social Security number who makes up to $75,000 will get a payment of $1,200; married couples who file jointly and earn less than $150,000 will get $2,400. The payment steadily declines for those who make more, and phases out for those who earn more than $99,000; or $198,000 for married couples. The thresholds are different for those who file as head of household. Parents will get $500 for each eligible child as well."

After that, the IRS plans to start preparing millions of files to send over to the Bureau of Financial Services, which will cut paper checks for people who don't have traditional bank accounts. They'll be sent out between the end of May and mid-June, the agency says.

For more information, please read here.

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