When to Expect your Paper Stimulus Check

Theresa FerroneBlog

Some people expecting paper stimulus checks may have to wait months before seeing the payment in their mailbox. IRS is sending paper checks to individuals who qualify for the economic impact payment but didn’t get it directly deposited into their bank accounts. Some checks have already been mailed out to taxpayers. For the rest, the Service will send out approximately 5 million checks per week.  People with lower adjusted gross incomes (say $10,000 or less) will get their checks first, and that mailing each week thereafter will be scheduled in ascending AGI order. So people with higher AGIs will have to wait longer.

IRAs & Plans Does the required minimum distribution waiver for 2020 apply to 401(k)s? Yes. the provision in the stimulus law that suspends RMDs for 2020 applies to IRa; defined-contribution retirement plans such as 401(k)s, 403(b)s, and 457(b) plans from government employers; and the federal Thrift savings Plan. Owners of inherited IRAs and plans also qualify for the RMD waiver.

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