The IRS has published guidance on the new stimulus payments (aka economic impact payments), including who is eligible and how they will receive payment. You can find it here. That’s the same place we’ll be getting our information, so feel free to go straight to the IRS page with questions.
Keep in mind that the IRS continues to issue Economic Impact Payments (EIPs), so if you haven’t yet received yours, it doesn’t mean you won’t. Additionally, the EIP is actually an advance on a credit to your 2020 taxes. So, anyone who qualifies for the payment but doesn’t receive it during 2020 will be able to take it as a tax credit when they file their tax returns next year.
Update: The IRS has announced that they want taxpayers to return any stimulus checks that were sent in error.
The most obvious example of this is checks that came to taxpayers who are deceased. If the date of the check was after the date of death of the payee, it needs to be returned to the IRS. Other examples of erroneous checks include those mailed to children or other dependents; those mailed to taxpayers with income above the phase-out amount; and taxpayers who received duplicate payments.
For instructions on what to do with an erroneous check and where to send it, go to the Economic Impact Payment FAQ page and look for “What should I do to return an Economic Impact Payment?” The numbers change frequently, but that question has remained at the bottom of the page since it went up on May 11.