Stimulus Update: More Payments Go Out This Week

Summary

WSJ Your Money Briefing

Episode: Stimulus Update: More Payments Go Out This Week

Date: April 28, 2020
Host: J.R. Whalen
Guest: Richard Rubin, Wall Street Journal Tax Reporter

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Overview

This episode focuses on the status and updates regarding the distribution of federal stimulus payments (Economic Impact Payments) during the COVID-19 pandemic. The discussion centers around the IRS's progress in sending payments, improvements to their systems, expected timelines for both direct deposits and paper checks, and special guidance for veterans and people receiving Supplemental Security Income (SSI).

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Key Discussion Points & Insights

1. Additional Wave of Stimulus Payments this Week

• The IRS has already sent about 88 million payments, with millions more scheduled for distribution (00:20).
• Payments are being distributed both electronically (direct deposit) and via paper checks (01:25).

2. System Improvements for Payment Tracking

• The IRS has been updating its online resources, notably the "Get My Payment" tool, to resolve common user issues such as error messages and lack of status updates (00:41, 02:10).
  • Quote:
    "They have updated it repeatedly and fixed some of the problems that people were having. So if you were frustrated with it a week ago...I would encourage people to go back."
    — Richard Rubin (00:41; repeated at 02:16)

3. Paper Checks: Slower but Ongoing

• Paper checks are being sent at an estimated rate of 5 million per week, a process expected to take several weeks to months due to logistical constraints (01:38).
  • Quote:
    "It's just really about the government's capacity to get them all out as quickly as possible."
    — Richard Rubin (01:49)
• Some recipients have already received their checks or can see their mailing dates via the IRS website (01:44).

4. Troubleshooting Delays and Using the IRS's Tools

• If you think your payment is stuck, regularly check the "Get My Payment" tool:
  • The tool is updated once a day; checking more frequently isn’t helpful (02:36).
  • You can input or update your direct deposit information if eligible (02:36).

5. Payment Timeline Expectations

• Timeline for electronic payments:
  • If you enter direct deposit info by midday Tuesday, you may receive a notification on Saturday, with the deposit arriving Wednesday or Thursday the following week (02:51).
  • Entering info after Tuesday may result in a one-week delay for notification and payment.
  • There are cases where people entering direct deposit info after the process is started may still receive a paper check (03:26).
  • Quote:
    "That's basically...on the shortest turnaround from a Tuesday to the following Wednesday or Thursday, about eight or nine days from entry to money."
    — Richard Rubin (03:04)

6. Special Guidance for Veterans and SSI Recipients

• Deadline approaching: If you receive veterans benefits or SSI and have dependent children, you must use the IRS "non-filers" tool to report dependent information by May 5 to receive the extra $500 per child this year (03:57).
  • If not, the additional payment may be delayed until next year.
  • Quote:
    "The IRS doesn't necessarily know that you have a child living with you. So you might not be able to get that $500 until next year if you don't do it by May 5th."
    — Richard Rubin (04:05)
• This affects hundreds of thousands who don't file tax returns but get federal benefits and have children at home (04:13).

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Notable Quotes & Memorable Moments

• System Frustrations Acknowledged
  "Don't blame me, blame them." — Richard Rubin (02:14), referring candidly to widespread user frustration with the IRS website.
• On the Non-Filers Tool:
  "It's a pretty simple thing to do, but it can be a little bit daunting or a little bit confusing if you're someone who doesn't file taxes, but you already have these federal benefits set up.”
  — Richard Rubin (04:34)

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Timestamps for Key Segments

• 00:20: Introduction; millions of payments being sent
• 00:41: System updates to IRS payment tools
• 01:25: Current status—both electronic and paper payments underway
• 01:38: Paper check distribution pace and timeline
• 02:10: Troubleshooting and guidance for the “Get My Payment” tool
• 02:51: Detailed timelines for receiving payments via direct deposit
• 03:57: Urgent message for veterans and SSI recipients with dependents
• 04:54: Episode close

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Episode Tone

The conversation is practical and supportive, with clear, actionable advice for listeners navigating IRS systems. Richard Rubin offers empathy for those facing issues and maintains a helpful, slightly candid tone—directly acknowledging system shortcomings and common frustrations.

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For More Information

• IRS Economic Impact Payments: irs.gov/coronavirus
• Non-Filers Tool & Get My Payment: Available through the IRS website

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Summary prepared for listeners seeking actionable information on the status of stimulus payments and how to ensure prompt receipt, especially for those facing obstacles or in special beneficiary categories.

Transcript

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[J.R. Whalen]

Here's your money briefing for Tuesday, April 28th. I'm J.R. whalen for the Wall Street Journal. The IRS has already sent out about 88 million stimulus payments to Americans this week. Another wave of payments is going out. And Wall Street Journal tax reporter Richard Rubin says this time the agency hopes to avoid the hiccups that have kept some people off its website.

[Richard Rubin]

They have updated it repeatedly and fixed some of the problems that people were having. So if you were frustrated with it a week ago, a week and a half ago, you weren't getting updates, you were getting error messages. I would encourage people to go back.

[J.R. Whalen]

You know, coming up, he'll also have an update for anybody who's expecting a paper check instead of a direct deposit, Keep an eye on your bank account. Millions more Americans are set to receive their stimulus payments from the IRS this week. In preparation, the government has been ironing out some kinks in the system. And Wall Street Journal tax reporter Richard Rubin joins us with an update. So, Richard, are these still electronic payments that are being sent out?

[Richard Rubin]

So we're now at the phase where we've got both things happening at once. We have electronic payments going out, but we also have paper checks going out in the mail as well.

[J.R. Whalen]

But is that process of sending out paper checks still much slower?

[Richard Rubin]

Yeah, it's going to be about 5 million or so per week, and that's going to take several weeks to a couple of months to get through. And so I definitely have heard from Wall Street Journal readers who have gotten their checks already or have been able to go the IRS website and see the date that their check is going to be mailed. So they know to be on the lookout for it. So those checks are coming, they're happening. It's just really about the government's capacity to get them all out as quickly as possible.

[J.R. Whalen]

For people who feel like their payment may be stuck in the system somewhere, how can they speed that up?

[Richard Rubin]

So the IRS's Get My Payment tool at www.irs.gov Coronavirus is working. And I know a lot of people have had frustration with it. And don't blame me, blame them. But I will say that they have updated it repeatedly, repeatedly and fix some of the problems that people were having. So if you were frustrated with it a week ago, a week and a half ago, you weren't getting updates, you were getting Error messages. I would encourage people to go back once a day because they only update it once a day. But once a day to go back and check on your payment and update your information, if you're able to do so.

[J.R. Whalen]

So what is the general timeline for expecting payment when somebody enters their [e-mail]

[Richard Rubin]

so if you enter it before the middle of a Tuesday, then you should get a notification the following the subsequent Saturday that the payment has been scheduled for electronic deposit. And then it would presumably show up within a few days, Wednesday, Thursday after that. So that's basically, you know, on the shortest turnaround from a Tuesday to the following Wednesday or Thursday, about eight or nine days from entry to money. It can be longer if you enter the it on Wednesday, then you won't get picked up until the following week's round of payments. So that's almost a little more than maybe two weeks before you could get it. And it may be. I've definitely heard from people who put in their direct deposit information, but they were sort of already in process to get a paper check. And so they went and put in their direct deposit information. Check the site again. And it said, oh, you're getting a paper check. Here's the date when it's being mailed. So some of that is likely to happen too, where people are trying to update direct deposit information and they get a check. But that's the general timeframe that people should expect.

[J.R. Whalen]

Now, there's also some new information for people who receive veterans benefits.

[Richard Rubin]

Yes. So there is a deadline coming up. If you don't file tax returns, but you either get veterans benefits or SSI Supplemental Security Income, and you have a dependent child living with you, then it's important to go to the non Filer's [e-mail] coronavirus and enter the information about that dependent. Because the IRS doesn't necessarily know that you have a child living with you. And so you might not be able to get that $500 until next year if you don't do it by May 5th. And so it's basically. And there's hundreds of thousands of people who are in this situation where they don't file tax returns, they have children who are living in the home with them and they need to just go and basically tell the IRS, no, this is the child who lives with me. Please send $500 for that child. And it's a pretty simp to do, but it's, it's something that, you know, can be a little bit daunting or a little bit confusing. If you're a someone who doesn't file taxes, but you do already have these federal benefits set up coming into your accounts.

[J.R. Whalen]

All right. That's Wall Street Journal tax reporter Richard Rubin with us. Richard, thanks for coming on the show.

[Richard Rubin]

Sure. Thanks.

[J.R. Whalen]

And that's your Money briefing. I'm J.R. whalen for the Wall Street

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