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The federal government recently passed a third stimulus package to help businesses, families, and individuals stay financially afloat during this pandemic. Part of this relief bill includes that the IRS distributes stimulus payments to qualified individuals. How to know if you qualifyThose who are eligible will automatically receive a stimulus payment from the IRS:
If you need more information (such as how your Social Security or Disability benefits affect your package, how your package is handled if you do not file taxes, or what happens if you have yet to file your taxes this year), please visit the IRS website. Estimate your paymentReceiving your stimulus payment from the IRSMost people do not need to take any action. The IRS will calculate and automatically send the stimulus payments to those who are eligible.
For more information about the stimulus checks, the IRS will post key information on IRS.gov/eip. Maximizing your stimulus paymentIf you’re expecting to receive a paper check, avoid paying fees* on your money by depositing it for free into a Sesame Cash account. Sesame Cash is a no-fee bank account that helps you keep more of your money for things that matter most. While the fastest way to receive stimulus payments is through direct deposit, if you haven’t already updated this information with the IRS, it may be too late for this stimulus around. You can update this information when you file your taxes to have future stimulus payments and government benefits automatically deposited into your Sesame Cash account up to two days early! (Some customers even received their last stimulus checks as many as five days earlier than other banks!) No more waiting for a check! For recommendations on how to spend your stimulus payment to help maximize the funds, read our guide. We’re here to help.Do you have questions about your payment that you haven’t been able to find the answer to? Credit Sesame wants to hear from you. We also want to help you find answers to any other questions you may have about managing your finances during this challenging time. Please join us over at SesameThrive, our new Credit Sesame Community aimed at helping people navigate their financial options and get on the path to financial wellness. Back to Guide * International and out-of-network cash withdrawal fees apply. Third-party and cash deposit fees may apply. Disclaimer: This content is for informational purposes only and should not be relied on as financial advice. The payment estimate is calculated pursuant to the second stimulus package, however, actual payment amounts may vary. Join The Discussion Become a vital part of the SesameThrive community and share your experiences and insights. You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Published March 11, 2021
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