FRESNO, California (KSEE/KGPE) — The third stimulus check is already hitting some bank accounts, just days after President Joe Biden signed the American Rescue Act into law.
Major U.S. banks and credit unions must make the first wave of stimulus payments available to eligible customers by Wednesday, March 17 at 9:00 a.m., local time—which is the official payment date designated by the Internal Revenue Service (IRS).
While some households will see the funds as early as this week, others may be in for a longer wait.
The checks’ arrival is squarely in the middle of tax season, which means you may still be busy filing taxes when the checks start coming in. Given the timing of those third stimulus checks and the previous year’s taxes merging into the same lane, questions arise such as will your eligibility for the new payment be based on your 2019 or 2020 taxes? What if you didn’t file taxes in 2019 or don’t file a return before the new bill passes? What if your circumstances have changed since you last filed?
Those questions are answered in the video livestream above.