The IRS and some major financial institutions say the third round of stimulus payments will begin arriving in Ohioans’ bank accounts this week.
The first batch of payments will be made via direct deposit, the IRS said, but checks and debit cards with people’s stimulus funds will be mailed out in coming weeks.
PNC Bank said most of its customers who have direct deposit set up with the IRS can expect to see their payments begin to arrive on Wednesday.
Chase bank also said it expects electronic stimulus payments will be available in eligible accounts as soon as Wednesday.
People can check on the status of their 2021 stimulus check by visiting https://www.irs.gov/coronavirus/get-my-payment.
The IRS says most stimulus payments, officially called economic impact payments, will be distributed via direct deposit.
In the first round of payments, more than 6 million Ohioans received checks worth a combined $10.1 billion, the IRS said.
This round, most people will receive $1,400 individually and $1,400 for each qualifying dependent.
In the previous two rounds of payments, only people with dependents under the age of 17 were eligible for the additional stimulus funding.
Now, qualifying dependents can include college students, parents and grandparents and adults with disabilities.
Ohioans should receive a full $1,400 economic impact payment if their adjusted income is $75,000 or less. Married couples will receive the full amount if the earn up to $150,000.
Individuals who earn $80,000 or more and couples who earn $160,000 or more are not eligible for this round of stimulus funding. Some people will receive partial payments.
The IRS says stimulus payments may show up in people’s accounts as pending or provisional before the official payment date of March 17.
This round of stimulus payments is the largest to date.
Most people received $1,200 in the first round and $600 in the second.
The payments were authorized by the $1.9 trillion American Rescue Plan Act, which President Joe Biden signed last week.
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