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THE TRANSATLANTIC MAGAZINE

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Stimulus Payment Update for Overseas Americans

Almost $1bn has been processed for Americans living outside of the US, and guidance has been issued to accelerate payments

Published on May 11, 2020

The IRS has confirmed that, as of May 8, almost $1,000,000,000 of payments have been made to addresses outside of the US as part of the Coronavirus Economic Impact Payments package, supporting nearly 600,000 US taxpayers residing outside of America.

With more than 150 million payments expected to be sent out in total to all US taxpayers, the IRS has issued updated guidance to help ensure those who have yet to receive payments are able to do so as soon as possible.

In an alert also issued on May 8, the IRS urged eligible recipients of Economic Impact Payments to use the 'Get My Payment' service by noon, Wednesday May 13, "for a chance to get a quicker delivery" of payments.

The IRS alert says "Starting later this month, the number of paper checks being delivered to taxpayers will sharply increase. For many taxpayers, the last chance to obtain a direct deposit of their Economic Impact Payment rather than receive a paper check is coming soon. People should visit Get My Payment on IRS.gov by noon Wednesday, May 13, to check on their payment status and, when available, provide their direct deposit information."

IRS Commissioner Chuck Rettig explained that "We're working hard to get more payments quickly to taxpayers ... We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information. Time is running out for a chance to get these payments several weeks earlier through direct deposit."

Katelynn Minott, a senior CPA and partner at Bright!Tax (brighttax.com), recently answered questions about payments in an article for The American: Read More Here.

For more details on the 'Get My Payment' tool, you can go to https://www.irs.gov/newsroom/act-by-wednesday-for-chance-to-get-quicker-economic-impact-payment-timeline-for-payments-continues-to-accelerate

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